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FxWirePro:GBP/NZD consolidating around 1.9620, bias is bullish

•GBP/ NZD strengthened on Tuesday as rally was fuelled by upbeat UK employment data and weaker kiwi dollar. •British employers hired a record number of staff in November, adding to signs that the labour market withstood …

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FxWirePro:GBP/NZD consolidating around 1.9620, bias is bullish
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•GBP/ NZD strengthened on Tuesday as rally was fuelled by upbeat UK employment data and weaker kiwi dollar.

•British employers hired a record number of staff in November, adding to signs that the labour market withstood the end of the government's furlough scheme.

• From a technical are bullish as RSI  is at 63, daily momentum studies, 5, 10 and 11 are trending up.

•Immediate resistance is located at 1.9631 (23.6%fib), any close above will push the pair towards 1.9721 (Higher BB).

•Support is seen at 1.9545(5DMA) and break below could take the pair towards 1.9471 (38.2%fib).

•Recommendation: Good to buy around 1. 9620, with stop loss of 1. 9500 and target price of 1. 9700
 

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