• GBP/NZD rose on Friday as GBP shorts squaring helped boost the pound against kiwi dollar.
• GBP/NZD rallied further away from Thursday’s 21-month low at 19137, a daily close below which will accelerate towards 1.7900 (Lower BB).
• Technical are bullish, daily RSI is bullish at 60, daily momentum studies 9 and 10 DMAs are trending up.
• Immediate resistance is located at 1.9499 (23.6%fib ), any close above will push the pair towards 1.9544 (38.2%fib).
• Strong support is seen at 1.9380 (50%fib) and break below could take the pair towards 1.9207(61.8%fib).
Recommendation: Good to buy around 1.9430, with stop loss of 1.9250 and target price of 1.9430
