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• GBP/NZD initially dipped on but recovered some to the ground as investors digested mixed U.S. jobs data .
• The is pair heading towards the 23.6% fib resistance, as near term direction of the pair is likely to be driven by current price action.
• Technical are strongly bullish, daily RSI is bullish at 56, daily momentum studies 9 and 10 DMAs are trending up.
• Immediate resistance is located at 2.0723 (23.6%fib ), any close above will push the pair towards 2.0808(Higher BB).
• Strong support is seen at 2.0604 (5DMA) and break below could take the pair towards 2.0509 (38.2%fib).
Recommendation: Good to buy around 2.0650, with stop loss of 2.0540 and target price of 2.0730
