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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
 

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