• GBP/NZD initially gained on Monday but gave up some ground as investors focused on lockdowns lifting by England on July 19th.
• Despite today’s marginal pullback from high ,support at 1.9823 is holding,A close above 23.6%fib at 1.9931 eyes psychological level at 2.000.
• Technicals leans bullish as RSI is at 58 bullish, and 9,11 and 14 DMA’s are trending up.
• Immediate resistance is located at 1.9931 (23.6%fib ), any close above will push the pair towards 1.9952 (Higher BB).
• Strong support is seen at 1.9823 (38.2% fib) and break below could take the pair towards 1.9775(21DMA).
Recommendation: Good to buy around 1.9850, with stop loss of 1.9730 and target price of 1.9960
