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FxWirePro:GBP/NZD steadies above 1.9680, retains bid tone

Tuesday, December 21, 2021 12:19 AM UTC

• GBP/ NZD rose on Monday as commodity linked New Zealand dollar weakened on fears of further spread of Omicron coronavirus variant.

•New Zealand dollar was sold off broadly as coronavirus cases surged in New Zealand and Australia over the weekend.

• GBP/ NZD rebounded from daily low, keeping bullish sentiment intact as the pair found support at 1.9618 (5DMA).

• A close above (23.6%fib)is likely trigger a new bullish phase with potential for 1.9800.

• Technical signals are bullish as RSI is at 64, 9,11, 21 DMAs are trending up.

• Immediate resistance is located at 1.9689 (23.6% fib), any close above will push the pair towards 1.9750 (Higher BB).

• Immediate support is seen at 1.9618 (5DMA) and break below could take the pair towards 1.9538 (38.2%fib).

Recommendation: Good to buy 1.9680, with stop loss of 1.9600 and target price of 1.9750

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FxWirePro:GBP/NZD steadies above 1.9680, retains bid tone

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