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FxWirePro :GBP/ NZD loses momentum but outlook is bullish

• GBP/NZD retreated from daily high on Wednesday  as the pair gains faded ahead of BoE interest rate decision.

•  The pound trimmed earlier gains against the kiwi dollar , the pair was last trading   at 0.02% at  1.9709  

• Technical signals are bullish as RSI is at 62, daily momentum studies  5, 9 and 10 DMAs are trending north. 

•  Immediate resistance is located at 1.9789 (23.6%fib ), any close above will push the pair towards 1.9832(Higher BB).

• Strong support is seen at 1.9635 (23.6% fib) and break below could take the pair towards 1.9583(9DMA).

Recommendation: Good to buy on dips around 1.9680 with stop loss of 1.9570 and target price of 1.9780.

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