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FxWirePro:GBP/NZD rebounds, critical resistance lies ahead

• GBP/NZD rebounded towards  2.0980 level on Wednesday   as the pair was swept up following release of US CPI data.

• The rallied towards  2.1019 (23.6%fib ).  Sustained  break   would open the door towards  2.1100 level

• Technical are bullish, daily RSI is bullish at 53, daily momentum studies  9 and 10 DMAs are trending up. 

• Immediate resistance is located at 2.1019 (23.6%fib ), any close above will push the pair towards 1.9644 2.1123 (April 3rd high).

• Strong support is seen at 2.0885(38.2%fib) and break below could take the pair towards 2.0855 (Lower BB)

Recommendation: Good to buy around 2.0980 with stop loss of 2.0900 and target price of 2.1100

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