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• GBP/NZD strengthened on Thursday as kiwi dollar continued to tumble against pound
• The pair hit daily high at 2.0400, but recovered back , it was last up 0.49 % at 2.0332.
• Technical signals are bullish as RSI is at 63, daily momentum studies 5,9,21 DMA are trending north.
• Immediate resistance is located at 2.0390 (Daily high), any close above will push the pair towards 2.0433(23.6%fib).
• Strong support is seen at 2.0221 (Daily low) and break below could take the pair towards 2.0161 (38.2%fib).
Recommendation: Good to buy around 2.0330 with stop loss of 2.0230 and target price of 2.0430
