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FxWirePro:GBP/NZD runs out of steam but maintains bullish outlook

• GBP/NZD dipped on Monday as hawkish BoE vibe faded amid UK energy crises and Brexit angst.

• Though the pair has fallen away from its European session high, GBP/NZD has remained in positive territory ,   rise above 1.9643 (38.2% fib)may shift momentum to bulls, putting focus on 23.6%fib.

• Technicals are favouring bullish sentiment as RSI is at 54 and the pair is trading below   11 & 21-DMAs.

• Immediate resistance is located at 1.9643 (38.2% fib), any close above will push the pair towards 1.9733 (23.6%fib)

• Support is seen at 1.9580 (50%fib ) and break below could take the pair towards 1.9538 (14DMA).

Recommendation: Good to buy around 1.9580, with stop loss of 1.9500 and target price of 1.9650.

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