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FxWirePro: GBP/NZD rises on risk-on vibe, good to buy on dips

• GBP/NZD rose  on Thursday   as the pair was lifted   by rise in risk appetite  .

• At GMT 15:59, the pair was trading up 0.34 percent  at 1.9202 after reaching daily low at 1.9095.

• A rally towards   1.9300 is possible if  GBP/NZD bulls overcome resistance 1.9243 (23.6%fib). 

• Technical signals are bullish as RSI is rising at 55, daily momentum studies  5, 9 and 11 DMAs are trending up. 

• Immediate resistance is located at 1.9214 (Daily high), any close above will push the pair towards 1.9243 (23.6%fib  )

• Strong  support is seen at 1.9143 (5DMA) and break below could take the pair towards 1.9111 (38.2%fib).

Recommendation: Good   buy   around 1.9170, with stop loss of 1.9090 and target price of 1.9240

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