FxWirePro: GBP/NZD consolidating around 1.9450, bias is bullish
• GBP/NZD strengthened on Thursday as New Zealand dollar continued to lose ground in response to RBNZ rate hike.
• The pair is holding near today's high, A close above 1.9478(23.6%fib), will likely trigger a new bullish phase with potential for 1.9600.
• Technical favours bullish sentiment, RSI is rising & pair trades above 5 and 9-DMAs.
• Immediate resistance is located at 1.9478(23.6%fib), any close above will push the pair towards 1.9508(Higher BB)
• Immediate support is seen at 1.9368(38.2%fib ) and break below could take the pair towards 1.9284 (50%fib).
Recommendation: Good to buy around 1.9450, with stop loss of 1.9370 and target price of 1.9520