• GBP/NZD rose on Thursday as UK’s aggressive vaccine rollout and souring risk sentiment in global markets boosted sterling.
• GBP/NZD puts in daily high at 1.9198.Pressure is building for eventual gains that will likely test 1.9241 23.6% fib.
• Technical signals show the pair could gain more ground in the short-term as RSI is at 58 bullish, and moving averages are trending north.
• Immediate resistance is located at 1.9198 ( Daily high), any close above will push the pair towards 1.9241( 23.6% fib).
• Immediate support is seen at 1.9101 (38.2% fib) and break below could take the pair towards 1.9058 (5EMA).
Recommendation: Good to buy around 1.9120, with stop loss of 1.9050 and target price of 1.9240
