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• GBP/NZD initially dipped on Wednesday but recovered some of the ground as buying demand continued near 2.1250 level.
• The pair failed to break support at 2.1255 and pulled back towards 2.1300.
• Technical signals are bullishas RSI is at 56, daily momentum studies 5,9,21 DMA are trending north.
• Immediate resistance is located at 2.1317 (5DMA ), any close above will push the pair towards 1.21436 (23.6%fib).
• Strong support is seen at 2.1250 (38.2%fib) and break below could take the pair towards 2.1134 (Sep 1st low).
Recommendation: Good to buy around 2.1280 with stop loss of 2.1180 and target price of 2.1370
