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FxWirePro:GBP/NZD maintains bullish bias with focus on 2.0500 level

• GBP/ NZD initially dipped on Tuesday but recovered ground as traders focused on developments in Ukraine.

• The pair benefitted from   lowered tensions over Ukraine, the  pound  gained 0.02% versus the Kiwi dollar at 2.0382. 

• Technical signals are strongly bullish  as RSI is bullish at 61, 5, 9,11 DMAs are trending up. 

• Immediate resistance is located at 2.0523 (23.6%fib), any close above will push the pair towards 2.0557 (Higher BB).

• Immediate support is seen at 2.0364 (38.2%fib) and break below could take the pair towards 2.0313 (5DMA).

Recommendation: Good buy around 2.0380, with stop loss of 2.0200 and target price of 2.0500

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