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

• GBP/NZD steadied around  2.1055  on Monday  as GBP  benefited from   upbeat UK CBI data.

• The Confederation of British Industry's (CBI) monthly retail sales balance, indicating sales over the year up to March, increased to +2 from -7 in February.

• GBP/NZD remains bullish, only a break and daily close below 2.0902 (38.2%fib) will shift bias to the downside.

• Technicals are favouring bullish sentiment as RSI is at 65 and the pair is trading above 11 & 21-DMAs. 

• Immediate resistance is located at 2.1087 (23.6%fib ), any close above will push the pair towards 2.1154 (Higher BB).

• Strong support is seen at 2.0987(Daily low) and break below could take the pair towards 2.0902 (38.2%fib).

Recommendation: Good to buy   around 2.1050 , with stop loss of 2.0900  and target price of 2.1130

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