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• GBP/ NZD eased towards 1.9365 on Wednesday as the cross pair met headwind at 1.9436 (Higher BB).
• Pullbacks is likely to remain limited,a close above 1.9436 (Higher BB) will strengthen uptrend.
• Technical signals are bullish as RSI is heading down at 59, daily momentum studies 5, 9 and 10 DMAs are trending up.
• Immediate resistance is located at 1.9436 (Higher BB), any close above will push the pair towards 1.9512 (23.6% fib).
• Immediate support is seen at 1.9317 (38.2% fib) and break below could take the pair towards 1.9217 (21 DMA).
Recommendation: Good to buy around 1.9380, with stop loss of 1.9215 and target price of 1.9500
