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

• GBP/ NZD rose on Friday as  UK  service PMI data boosted sterling against weaker kiwi dollar 

• The PMI  spanning services and manufacturing firms  rose to 53.9 in April from 52.2 in March 
.
• Technical signals show the pair could gain more ground in the short-term as RSI is at 69 bullish, daily momentum studies  5, 9 and 11 DMAs are trending  up. 

• Immediate resistance is located at 2.0292 ( 38.2% fib), any close above will push the pair towards 2.0330 (Oct 17th 2022 high).

• Immediate support is seen at 2.0115(50% fib) and break below could take the pair towards 2.0093 (5DMA).

Recommendation: Good to buy around 2.0220, with stop loss of 2.0120 and target price of 2.0400
 

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