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FxWirePro: GBP/NZD beginning to trend higher but hurdles ahead

• GBP/NZD strengthened  on Friday  as  global risk asset inflow kept sterling buoyed.

• Investors remained focused on the Bank of England policy path as higher rates would support the British currency.

•Sterling was last trading at  0.013 % higher versus the kiwi dollar  ,it is set to end the week down by  0.61%

•The pair is holding near today's high and has managed to stay above the crucial level of 50%fib support.

• Immediate resistance is located at 2.0500 (38.2%fib), any close above will push the pair towards 2.0580 (Feb 19th high).

• Strong support is seen at 2.0350(50%fib) and break below could take the pair towards 2.0269 (61.8%fib)

Recommendation: Good to buy around 2.0440 with stop loss of 2.0320  and target price of 2.0500

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