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FxWirePro:GBP/NZD steadies around 2.1030, retains bid tone

• GBP/NZD edged higher   on Tuesday  but gains were limited as investors a  exercised caution ahead of this week's crucial data releases.

• Market focus is on the U.S. Core Personal Consumption Expenditure Price Index data PCE due on Friday.

•  A rally towards is   possible if  GBP/NZD bulls overcome resistance at 2.1081 (23.6%fib ).

• Technical are strongly bullish, daily RSI is bullish at 65, daily momentum studies  9 and 10 DMAs are trending up. 

• Immediate resistance is located at 2.1081 (23.6%fib ), any close above will push the pair towards 2.1106 (Higher BB).

• Strong support is seen at 2.0100(March 26th low) and break below could take the pair towards 2.0948(38.2%fib).

Recommendation: Good to buy   around 2.0100, with stop loss of 2.0000 and target price of 2.1110
 

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