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FxWirePro:GBP/NZD rebounds from 3-week low, outlook bullish

• GBP/ NZD rebounds from 3-week low on Friday as weak U.S. jobs report spurred worries on the health of the American economy .

• The U.S. unemployment rate surged to a near three-year high of 4.3% due to a significant hiring slowdown, raising concerns about labor market deterioration and a possible recession.

• GBP/ NZD traded near 2.1497 late, pair was up   +0.41% late in the day.

• Technical highlight upside risks for GBP /NZD , with momentum studies, 5, 10 and 21 DMAs tracking north.

• Immediate resistance is located at 2.1533(38.2%fib), any close above will push the pair towards 2.1768 (23.6%fib).

•   Immediate support is seen at 2.1364(50%fib)and break below could take the pair towards 2.1188(61.8%fib).

Recommendation: Good buy around 2.1480, with stop loss of 2.1400 and target price of 2.1650

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