FxWirePro : GBP/NZD rises to highest level since April 1st, 1.9800 is now exposed

• GBP/NZD rose higher on Thursday as strong U.S. jobs data lifted sentiment   for the cross pair.

•ADP’s national employment data showed that the number of private sector employment increased by 978,000 in May, far exceeding expectations, setting an optimistic tone for Friday’s official employment report.

• GBP /NZD climbed above 1.9750 and holds near the day's high late US session,the pair has traded a 219 pip range thus far Thursday, 1.9557-1.9776.

•Technical signals show the pair could gain more ground as RSI  is strongly bullish at 61 bullish, and 9, 11,21 DMA’s are trending north.

 • Immediate resistance is located at 1.9776 ( Daily high), any close above will push the pair towards 1.9868(Higher BB).

• Support is seen at 1.9734 (23.6%fib ) and break below could take the pair towards 1.9662 (38.2%  fib).

Recommendation: Good to buy around 1.9720, with stop loss of 1.9600 and target price of 1.9850