• GBP/ NZD rebounds from 3-week low on Friday as weak U.S. jobs report spurred worries on the health of the American economy .
• The U.S. unemployment rate surged to a near three-year high of 4.3% due to a significant hiring slowdown, raising concerns about labor market deterioration and a possible recession.
• GBP/ NZD traded near 2.1497 late, pair was up +0.41% late in the day.
• Technical highlight upside risks for GBP /NZD , with momentum studies, 5, 10 and 21 DMAs tracking north.
• Immediate resistance is located at 2.1533(38.2%fib), any close above will push the pair towards 2.1768 (23.6%fib).
• Immediate support is seen at 2.1364(50%fib)and break below could take the pair towards 2.1188(61.8%fib).
Recommendation: Good buy around 2.1480, with stop loss of 2.1400 and target price of 2.1650
