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FxWirePro:GBP/NZD positions for another climb, eyes 2.1000 level

• GBP/ NZD strengthened on Monday as traders shrugged off the UK election result and focus on monetary policy in the UK and United States.

• GBP/ NZD is likely to maintain its slight bid  any data surprises to upset the current BoE-Fed policy stasis.  

• GBP/ NZD approached to test resistance 2.0929 (38.2%fib)  but   retreated as   the pair lost strength.

•  Technical signals are bullish  as RSI is at 61, daily momentum studies  5,9 and 10 DMAs are trending up. 

•  Immediate resistance is located at 2.0929(38.2%fib), any close above will push the pair towards 2.1006(23.6%fib%fib).

• Support is seen at 2.0860(50%fib) and break below could take the pair towards 2.0791(61.8%fib).

 Recommendation: Good to buy around 2.0900, with stop loss of 2.0720 and target price of 2.1000
 

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