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FxWirePro:GBP/NZD consolidates around 2.0675, maintains bullish bias

• GBP/ NZD strengthened on Tuesday as sterling was boosted by return of risk appetite.

• Scope is growing for an eventual break above 2.0725 level, an eventual break above 2.0725 will accelerate further upside.

• Technical signals show the pair could gain more ground in the short-term as RSI is at 60 bullish, daily momentum studies  5, 9 and 11 DMAs are trending  up. 

• Immediate resistance is located at 2.0725 (38.2% fib), any close above will push the pair towards 2.0774 (Higher BB).

• Immediate support is seen at 2.0543 (50% fib) and break below could take the pair towards 2.0427 (30DMA).

• Recommendation: Good to buy around 2.0660, with stop loss of 2.0550 and target price of 2.0740
 

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