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FxWirePro:GBP/NZD maintains bullish bias with focus on 1.9400

• GBP/ NZD rose past  1.9300 as New Zealand dollar weakened   after RBNZ’s increased   benchmark rate by 25bp.

• The Reserve Bank of New Zealand  raised 25-basis-point  at Wednesday's meeting to counter rising inflation.

• Technical signals are strongly bullish  as RSI is bullish at 57, 5, 9,11 DMAs are trending up. 

• Immediate resistance is located at 1.9382 (Higher BB), any close above will push the pair towards 1.9391 (23.6%fib).

•  Immediate support is seen at 1.9315 (38.2%fib) and break below could take the pair towards 1.9226(23.6%fib).

Recommendation: Good buy around 1.9250, with stop loss of 1.9100 and target price of 1.9380

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