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FxWirePro:GBP/NZD maintains bullish bias with focus on 2.0850

• GBP/NZD gained  on Thursday  as GBP  benefited from  strongly weaker New Zealand dollar.

• At GMT 20:14, the pair was trading up 0.34 percent  at 2.0795 after reaching daily high at 2.0818.

• A rally towards is   2.0900 possible if  GBP/NZD bulls overcome resistance at 23.6%fib.

• Technical are bullish, daily RSI is bullish  at 55, daily momentum studies  9 and 10 DMAs are trending up. 

• Immediate resistance is located at 2.0818 (23.6%fib ), any close above will push the pair towards 2.0883 (5th March high).

• Strong support is seen at 2.0674(38.2%fib) and break below could take the pair towards 2.0634 (7th Feb low)

Recommendation: Good to buy around 2.0770, with stop loss of 2.0660 and target price of 2.0850
 

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