• GBP/ NZD initially dipped on Tuesday but pulled back most of the lost ground as the pair was supported by UK's GBP 1 bln pandemic support.
• Britain announced support for businesses hit by the latest wave of COVID-19 infections amid fears of new restrictions on activity.
• A close above 1.9633 (38.2% fib), is likely to trigger a new bullish phase with potential for 1.9700.
• Technical signals are bullish as RSI is at 59, 5, 9, 11 DMAs are trending up.
• Immediate resistance is located at 1.9633 (38.2% fib), any close above will push the pair towards 1.9692 (Higher BB).
• Immediate support is seen at 1.9556 (14DMA) and break below could take the pair towards 1.9514 (50%fib).
• Recommendation: Good buy around 1.9630, with stop loss of 1.9550 and target price of 1.9700
