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FxWirePro: GBP/NZD consolidating around 2.0530, bias is bullish

• GBP/NZD   steadied around   2.0530 on Wednesday  as sterling was supported by upward revision to the UK services PMI.

•  UK data surprised on Wednesday,UK September services PMI was revised up to 49.3 vs 47.2 flash estimate.

• A close above 38.2%fib will  trigger a new bullish phase with potential for 2.0600

• Technical signals   are bullish as RSI is    rising sharply from below, moving averages 5,9 ,11DMA’s trending up.

• Immediate resistance is located at 2.0568(38.2%fib), any close above will push the pair towards 2.0657(23.6%fib).

• Immediate support is seen at 2.0483 (50%fib) and break below could take the pair towards 2.0421 (5DMA).

 Recommendation: Good to buy around 2.0510, with stop loss of 2.0380 and target price of 2.0600

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