• GBP/ NZD gained on Friday as sterling was supported by upbeat data releases that reinforced market expectations for a faster UK economic recovery.
• Bulls have tightened their grip after registering a close above the 1.9352 (38.2%fib),scope grows for bigger gains towards 1.9850.
• Technical signals are strongly bullish as RSI is bullish at 62, 5, 9,11 DMAs are trending up.
• Immediate resistance is located at 1.9786(23.6%fib), any close above will push the pair towards 1.9852 (Higher BB).
• Immediate support is seen at 1.9655 (5DMA) and break below could take the pair towards 1.9620 (38.2%fib).
Recommendation: Good buy around 1.9720, with stop loss of 1.9600 and target price of 1.9830
