• GBP/NZD recovered some ground from initial decline on Tuesday as sterling was supported after UK jobs data came in largely in line with forecasts .
•Data showed British employers expanded their payrolls to a record high in September, while the unemployment rate edged down to 4.5% in the three months to August, in line with forecasts
• GBP/NZD recovers towards above 1.9592 and holds near the day's high in US session.
• Bulls will need a clear 1.9606 ( 38.2%fib)to take greater control, failure to break higher will spur fresh downward momentum.
• Technical signals are bullish as RSI is at 53, moving averages are trending higher.
• Immediate resistance is located at 1.9606 ( 38.2%fib), any close above will push the pair towards 1.9661 ( Higher BB).
• Immediate support is seen at 1.9554 (14DMA) and break below could take the pair towards 1.9538(50%fib).
Recommendation: Good to buy around 1.9580, with stop loss of 1.9500 and target price of 1.8650.
