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• GBP/NZD edged higher on Friday as UK's fast vaccine rollout gave the pair a lift, despite slightly weaker UK GDP data.
• The pair has traded a 92 pip range thus far on Friday, 1.9338 -1.9430.Unless there is major news uptrend is set to continue.
• Technical signals are bullish as RSI is at 59, daily momentum studies 5,9,10 DMA are trending up.
• Immediate resistance is located at 1.9460(Higher BB), any close above will push the pair towards 1.9519 ( 23.6%fib).
• Strong support is seen at 1.9328 (38.2%fib) and break below could take the pair towards 1.9294(10DMA).
Recommendation:Good to buy around 1.9380, with stop loss of 1.9250and target price of 1.9450.
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FxWirePro:GBP/NZD edges above 1.9350 and now targets higher bollinger bands
Friday, March 12, 2021 6:38 PM UTC
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