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FxWirePro:GBP/NZD extends rally above 38.2%fib, good to buy on dips

• 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

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