• GBP/ NZD extended its yesterday’s bounce as expectation that the EU and UK will ultimately agree a Brexit deal boosted pound.
• GBP/NZD jump on Wednesday puts the focus is on the 1.9138 ( 38.2% fib).A break and daily close above 1.9138 would accelerate gains.
• Any downside correction is likely to be temporary as barrier at 1.8906 (61.8%fib) is set to restricting lower move.
• Immediate resistance is located at 1.9138 ( 38.2% fib), any close above will push the pair towards 1.9268 (23.6% fib).
• Immediate support is seen at 1.9025 (50% fib) and break below could take the pair towards 1.8906 (61.8%fib).
• Recommendation: Good to buy around 1.9025, with stop loss of 1.8900 and target price of 1.9140
