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FxWirePro:GBP/NZD range to extend until there is game changing news

• GBP/NZD gained on Thursday as   expectation Bank of England will raise interest rate soon  boosted sterling across the board .

• Market  currently price in more than 100 basis points (bps) in interest rate rises in 2022 and an 87% chance of a 25 bps increase in February.

• GBP/NZD remains bullish, only a break and daily close above 50%fib at 1.9870 will shift bias to the downside.

• Technicals are favouring bullish sentiment as RSI is at 72 and the pair is trading above 5,9 and 11-DMAs. 

• Immediate resistance is located at 2. 0160 (23.6%fib ), any close above will push the pair towards 2.0239 (Higher BB).

• Strong support is seen at 2.0089 (5DMA) and break below could take the pair towards 2.0000 (Psychological level).

Recommendation: Good to buy   around 2.0100, with stop loss of 2.0000, and target price of 2.0200,

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