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FxWirePro:GBP/NZD sustains gains as uptrend remains strong

• GBP/ NZD  strengthened On Monday as sterling gained traction after the agreement between the U.S. and Mexico to postpones tariffs for a month.

• Mexican President Claudia Sheinbaum and President Trump agreed to delay implementing tariffs, easing concerns about a North American trade war.

• On the economic front, British factories reported another tough month in January as output, new orders and employment all fell, PMI data showed.

• Technical signals are bullish as RSI is at 61 bullish, daily momentum studies  5, 9 and 11 DMAs are trending  up. 

• Immediate resistance is located at 2.223 ( Higher BB), any close above will push the pair towards 2.2282 (Higher BB).

• Immediate support is seen at 2.0231(38.2% fib) and break below could take the pair towards 2.1823(50% fib).

 Recommendation: Good to buy around 2.0200 , with stop loss of 2.0130  and target price of 2.0340
 

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