FxWirePro:GBP/NZD eyes fibo resistance after rallying off from 1.9400
• GBP/ NZD gained on Monday as improved global risk sentiment in the market boosted sterling.
• Bulls have tightened their grip after registering a close above the 14DMA,scope grows for bigger gains towards 1.9600.
• Technical signals are strongly bullish as RSI is bullish at 55, 5, 9,11 DMAs are trending up.
• Immediate resistance is located at 1.9517 (23.6%fib), any close above will push the pair towards 1.9577 (Higher BB).
• Immediate support is seen at 1.9512 (14DMA) and break below could take the pair towards 1.9316 (38.2%fib).
Recommendation: Good buy around 1.9490, with stop loss of 1.9400 and target price of 1.9600