• GBP /NZD shot higher on Friday after a surprisingly strong U.S. jobs report boosted the pair.
• U.S. nonfarm payrolls increased by 272,000 jobs last month, while revisions indicated 15,000 fewer jobs were created in March and April combined than previously reported.
• The pound jumped 1.03% against kiwi dollar , rise above the 38.2% fib resistance has reinforced the growing bullish strength.
• Technical signals show the pair could gain more ground in the short-term as RSI is at 53,while moving averages are trending higher.
• Immediate resistance is located at 2.0862 (23.6% fib), any close above will push the pair towards 2.0910 (Higher BB).
• Immediate support is seen at 2.0763 (38.2% fib)and break below could take the pair towards 2.0690 (50% fib).
Recommendation: Good to buy on dips around 2.0840, with stop loss of2.0700 and target price of 2.0900
