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FxWirePro : GBP/NZD rallies above 1.9150,eyes further gains

• GBP/NZD rose higher on Wednesday as gains was driven by hopes of a breakthrough at high-level Brexit talks.

• GBP/NZD climbed  above 1.9100  and holds near the day's high in US session.  

• Technical signals are mixed as RSI is turing up, daily momentum studies  5, 9 and 10 DMAs are trending flat.

•The pair has traded a 65 pip range thus far on Wednesday, 1.9135-1.7205.Unless there is major negative news sterling uptrend is set to extend.

• Immediate resistance is located at 1.9212 (14 DMA), any close above will push the pair towards 1.9306 (50 % fib)

• Support is seen at 1.9127 (5 DMA ) and break below could take the pair towards 1.9029 (23.6%  fib).

Recommendation: Good to buy  around 1.9150, with stop loss of 1.9000 and target price of 1.9250.

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