• GBP/NZD rose higher on Thursday as GBP benefited from ECB rate hike decision and Credit Suisse's bailout.
• GBP/NZD remains bullish, only a break and daily close below 38.2%fib support at 1.9506 will shift bias to the downside.
• Technicals are favouring bullish sentiment as RSI is at 61 and the pair is trading above 9, 11 & 21-DMAs.
• Immediate resistance is located at 1.9656 (23.6%fib ), any close above will push the pair towards 1.9711 (Higher BB).
• Strong support is seen at 1.9552(5DMA) and break below could take the pair towards 1.9506(38.2%fib).
Recommendation: Good to buy around 1.9630, with stop loss of 1.9550 and target price of 1.9720
