• GBP/ NZD strengthened on Wednesday as pound's risk-sensitive gained as worries about the health of the global financial system continued to ease.
• Market jitters around a global financial meltdown have eased after a U.S. regional bank scooped up assets of failed Silicon Valley Bank (SVB) earlier this week.
• The pair picked up upside momentum and is approaching 23.6% fib resistance. A close above will opens up 1.9850 level.
• Immediate resistance is located at 1.9835(23.6% fib), any close above will push the pair towards 1.9875(Higher BB).
• Support is seen at 1.9762 (5DMA) and break below could take the pair towards 1.9666(38.2% fib).
Recommendation: Good to buy around 1.9780 with stop loss of 1.9700 and target price of 1.9850
