• 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
