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FxWirePro: GBP/NZD consolidates at above 1.9300 after early fall,good to buy on dips

Tuesday, March 16, 2021 8:09 PM UTC

• GBP/NZD recovered ground on Monday as bears run out of stem just shy of 23.6%fib support as market participants awaited Federal Reserve meeting .

• GBP/NZD hit daily low at 1.9229, before bouncing towards1.9320. Resistance at 1.9471 (Higher BB) is now threatened.

• Technical signals are bullish as RSI at 55, moving averages are trending up.

• Immediate resistance is located at 1.9340 ( 9 DMA), any close above will push the pair towards 1.9471 ( Higher BB).

• Immediate support is seen at 1.9239 (Daily low) and break below could take the pair towards 1.9174(23.6%fib).

Recommendation: Good buy around 1.9330, with stop loss of 1.9150 and target price of 1.9430.

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FxWirePro: GBP/NZD consolidates at above 1.9300 after early fall,good to buy on dips

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