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FxWirePro:GBP NZD consolidates above 1.9100 after early fall, maintains bullish bias

• GBP/NZD initially dipped on Thursday but rebounded sharply as improved risk appetite and   comments from BoE policymakers  lifted  the pair .

• The pair hit daily high at 1.9162, it was last up 0.01% at 1.9136 ( GMT 16:50) 

• GBP/NZD has seen a 1.9015-1.9162 range on Thursday, chart points to an overshoot above 1.9162(38.2% fib) resistance.

• Technical signals are strongly bullish  as RSI is   at 53, 5, 9,11 DMAs are trending up. 

• Immediate resistance is located at 1.9162(38.2% fib), any close above will push the pair towards 1.9201 (Jan 31st high).

• Strong support is seen at 1.9095 (21DMA) and break below could take the pair towards 1.9054 (50% fib).

Recommendation: Good to buy on  around 1.9130, with stop loss of 1.9100 and target price of 1.9170


 

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