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FxWirePro:GBP/NZD poised for further upside after key fibo break

• GBP/ NZD steadied around  2.1528  level on Monday as China's economic troubles and lower commodities prices continue to weigh on the kiwi dollar

• Bulls have tightened their grip after registering a close above the 2.1528 (38.2%fib),scope grows for bigger gains towards 2.1700. 

• Technical signals are strongly bullish  as RSI is bullish, 5, 9,11 DMAs are trending up. 

• Immediate resistance is located at 2.1528 (23.6%fib), any close above will push the pair towards 1.9852 (Higher BB).

•   Immediate support is seen at 2.1528 (38.2%fib)and break below could take the pair towards 2.1400 (50%fib).

Recommendation: Good buy around 2.1510, with stop loss of 2.1400 and target price of 2.1580
 

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