Fxwirepro: GBP/NZD intraday upside momentum strong after rebounding from trend line support

• GBP/NZD rebounded strongly on Tuesday as the pair found support at 2.0520 (Trendline). 

•The pair hit daily high at 2.0761 and was last trading at 2.0607 at (GMT 16:46).  

• The pair is expected to trade higher in the short-term unless and until it closes significantly below rising trendline. 

• Technically 21 day and 55-day moving average  remains positive and RSI is turning up.

• Immediate resistance is located at 2.0638 ( 21 DMA), any close above will push the pair towards 2.0782 (50 % fib).

• Strong support is seen at 2.0520 (Trendline) and break below could take the pair towards 2.0450 (55 DMA).

Recommendation: Good to buy around 2.0600, with stop loss of 2.0480 and target price of 2.0860