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FxWirePro: GBP/NZD bulls take advantage of upbeat US jobs data,good to buy on dips

• GBP/NZD rose  on Friday  as pair reacted to strong U.S. nonfarm payrolls report.

• Non-farm payrolls  report showed  U.S. employers surpassed economists' expectations by adding 353,000 jobs, exceeding the anticipated 180,000 jobs.

• A rally towards   2.0900  is possible if  GBP/NZD bulls overcome resistance 23.6%fib. 

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

• Immediate resistance is located at 2.0837(23.6%fib), any close above will push the pair towards 2.0940 (Jan 22nd high)

• Strong  support is seen at 2.0701 (38.2%fib) and break below could take the pair towards 2.0601 (50%fib).

Recommendation: Good   buy   around 2.0810, with stop loss of 2.0700 and target price of 2.0900
 

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