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FxWirePro:GBP/NZD consolidating around 1.9800, bias is bullish

• GBP/ NZD rose on Thursday as rally was fuelled by hawkish speech from BoE MPC member Saunders.

• GBP/ NZD also rallied on stronger economic data as UK hiring surged in June as economy reopened. 

• The number of employees on British company payrolls surged in June by the most since the start of the coronavirus pandemic

• Today’s rise has passed through the 38.2% fibonacci retrace point at1.9800 and now eyes the 23.6%fib at 1.9889.

• Immediate resistance is located at 1.9843 (Daily high), any close above will push the pair towards 1.9889 (23.6%fib).

• Support is seen at 1.9800(38.2%fib) and break below could take the pair towards 1.9731 (50%fib).

• Recommendation: Good to buy around 1. 9780, with stop loss of 1. 9670 and target price of 1. 9870

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