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FxWirePro: GBP/NZD consolidating around 1.9260, room for further gains

• GBP/NZD strengthened on Monday   as upbeat risk sentiment boosted sterling.

• The pair reaches 1.9256 after extending north from 1.9200 (Daily low). 1.9256 is the highest level since July 21st.

• GBP/NZD  bulls have to contend with strong resistance at 1.9266. If GBP/NZD  longs overcome that level, tests of 1.9314 (14 DMA) resistance is likely.

• Immediate resistance is located at 1.9266 (38.2%fib), any close above will push the pair towards 1.9314 (14DMA).

• Immediate support is seen at 1.9142 (Lower BB) and break below could take the pair towards 1.9056(23.6%fib).

Recommendation: Good to buy on dips around 1.9220, with stop loss of 1.9150 and target price of 1.9350.
 

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