• GBP/ NZD initially dipped on Tuesday but recovered ground as traders focused on developments in Ukraine.
• The pair benefitted from lowered tensions over Ukraine, the pound gained 0.02% versus the Kiwi dollar at 2.0382.
• Technical signals are strongly bullish as RSI is bullish at 61, 5, 9,11 DMAs are trending up.
• Immediate resistance is located at 2.0523 (23.6%fib), any close above will push the pair towards 2.0557 (Higher BB).
• Immediate support is seen at 2.0364 (38.2%fib) and break below could take the pair towards 2.0313 (5DMA).
Recommendation: Good buy around 2.0380, with stop loss of 2.0200 and target price of 2.0500
