FxWirePro: GBP/NZD positions for another climb, eyes 1.9300 level

• GBP/NZD strengthened on Thursday as hotter than expected U.S. inflation data  and lower commodity prices weighed on kiwi dollar.

• Oil prices   was pressured by expectations of weaker demand and continued U.S. dollar strength.

• The pair currently is approaching resistance at 38.2%fib resistence. A break above   would unmask 1.9300 level in the short term.

• Technical signals show the pair could gain more ground in the short-term as RSI is at 55,while moving averages are trending higher. 

• Immediate resistance is located at 1.9255(38.2%fib), any close above will push the pair towards 1.9409(23.6%fib).

• Immediate support is seen at 1.9166 (5DMA) and break below could take the pair towards 1.9199 (50%fib).

Recommendation: Good to buy around 1.9210, with stop loss of 1.9110 and target price of 1.9300