• GBP/ NZD initially gained on Friday but rally fizzled as investors shied away from riskier bets.
• GBP/ NZD approached to test resistance 1.9449 ( 38.2% fib)but retreated as GBP lost strength.
• Technical signals show the pair could gain more ground in the short-term as RSI is turning up bullish, daily momentum studies 5, 9 and 11 DMAs are trending up.
• Immediate resistance is located at 1.9449 ( 38.2% fib), any close above will push the pair towards 1.9529(Nov 10th high).
• Immediate support is seen at 1.9333 (5DMA) and break below could take the pair towards 1.9199 (50% fib).
Recommendation: Good to buy around 1.9300, with stop loss of 1.9240 and target price of 1.9370
