• GBP/ NZD rose on Tuesday as risk appetite faded as market reacted to rise in COVID cases in Australia and lockdowns.
• GBP/NZD rebounds towards 1.9800 and holds near the day's high in US session.
• Today’s rise has passed through the (50%fib) and now eyes the (38.2%fib).
• Immediate resistance is located at 1.9816 (38.2%fib), any close above will push the pair towards 1.9909(23.6%fib).
• Support is seen at 1.9743(50%fib) and break below could take the pair towards 1.9726 (21DMA).
• Recommendation: Good to buy around 1. 9780, with stop loss of 1. 9670 and target price of 1. 9860
