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FxWirePro:GBP/NZD remains bullish as rally continues

• GBP/ NZD rose on Wednesday as New Zealand fell after RBNZ  announced rate hike.

• Kiwi dollar eased despite hawkish projections, as market expected  of a 50 BP hike. 

• Today’s rise has passed through the 38.2% fibonacci retrace point   and now eyes the 23.6%fib.

•  Immediate resistance is located at 1.9418 (23.6%fib), any close above will push the pair towards 1.9455(Ichimoku Cloud Base).

• Support is seen at 1.9315(38.2%fib) and break below could take the pair towards 1.9299 (50%fib).

• Recommendation: Good to buy around 1. 9380, with stop loss of 1. 9300 and target price of 1. 9450
 

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