• GBP/ NZD extended its yesterday’s bounce as advancing COVID vaccination drive in UK lifted the pair.
• UK's rapid vaccine roll-out bolstered the view that Britain can recover more quickly than other countries.
• GBP/ NZD broke above the previous session's high, a close above 1.9224 (38.2%fib) would set the stage for a run higher towards 1.9300 and above.
• Technical studies are bullish with 5, 10 and 21 daily weekly moving averages are heading north
• Immediate resistance is located at 1.9224 ( 38.2% fib), any close above will push the pair towards 1.9374 (23.6% fib).
• Immediate support is seen at 1.9110 (50% fib) and break below could take the pair towards 1.9040 (21 DMA).
Recommendation: Good to buy around 1.9180, with stop loss of 1.9050 and target price of 1.9300
