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FxWirePro: GBP/NZD range to extend until there is game changing news

\• GBP/NZD gained  on Tuesday as GBP  benefited from   weaker New Zealand dollar, but gains were limited as investors squared positions ahead new year.

• GBP/NZD remains bullish, only a break and daily close above 38.2%fib will shift bias to the downside.

• Technicals are favouring bullish sentiment as RSI is at 63 and the pair is trading above 11 & 21-DMAs. 

• Immediate resistance is located at 1.9767 (Higher BB ), any close above will push the pair towards 1.9791 (23.6%fib).

• Strong support is seen at 1.9687(38.2%fib) and break below could take the pair towards 1.9515 (50%fib).

Recommendation: Good to buy around 1.9700, with stop loss of 1.9600 and target price of 1.9760

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