FxWirePro:GBP/NZD maintains bullish bias with focus on 1.9650 level

• GBP/ NZD strengthened on Monday as optimism that vaccination programmes and the easing of lockdowns would bode well for an economic rebound in UK boosted sterling.

• The pair attempted to breach resistance at 1.9568 ( 50% fib) and dipped towards 1.9544 level . A decisive break closure above 1.9568   could generate further gains.

•  Any downside correction is likely to be temporary as barrier at 1.9350 (38.2%fib) is set to restricting lower move.

•  Immediate resistance is located at 1.9568 ( 50% fib), any close above will push the pair towards 2.1

•  Immediate support is seen at 1.9462 (30DMA) and break below could take the pair towards 1.9350 (38.2%fib).

• Recommendation: Good to buy around 1.9510, with stop loss of 1.9400 and target price of 1.9620