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FxWirePro: GBP/NZD uptrend gains momentum, good to buy on dips

• GBP/NZD rose sharply on Monday  a risk sentiment improved as markets scaled back some of their bets on Federal Reserve rate hikes.

• The focus will turn to UK data later in the week, with jobs and inflation figures expected on Tuesday and Wednesday.
 
• At GMT 17:42, the pair was trading up 0.77 percent   at  1.9409.

• Technical signals show the pair could gain as RSI Is rising,while moving averages  turning up. 

• Immediate resistance is located at 1.7457( 38.2%fib), any close above will push the pair towards 1.7517 (July 8th high).

• Immediate support is seen at 1.9344(50%fib) and break below could take the pair towards 1.7287(50%fib).

Recommendation: Good to buy around 1.9400, with stop loss of 1.9290 and target price of 1.9480
 

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