• GBP/ NZD gained on Tuesday as traders turned their attention back to the prospect of interest rate hikes in Britain.
• GBP/ NZD extended its rebound for a second day on Tuesday, hitting a session-high 1.9613 with the pair moving above 5DMA.
• A close above 1.9616 (50%fib), is likely to trigger a new bullish phase with potential for 1.9700.
• Technical signals are bullish as RSI is at 46, 21, 30 DMAs are trending up.
• Immediate resistance is located at 1.9616 (50%fib), any close above will push the pair towards 1.9731 (61.8%fib).
• Immediate support is seen at 1.9533 (5DMA) and break below could take the pair towards 1.9501(38.2%fib).
Recommendation: Good buy around 1.9550 with stop loss of 1.9460 and target price of 1.9660
