FxWirePro:GBP/NZD uptrend loses momentum but bullish setup remains

• GBP/ NZD eased slightly  on Wednesday as markets focused on nuances of the policy statement and the post-meeting presser by Fed Chair Jerome Powell.

• Market is positioned for a hawkish hold when the Fed decides later today.

• The pound  erased Tuesday’ s gains against the kiwi dollar , the pair was last down  at 0.25% at  2.1167  

• Technical signals are   bullish as RSI is at 59 bullish, daily momentum studies  5, 9 and 11 DMAs are trending  up. 

• Immediate resistance is located at 2.1258 ( 23.6% fib), any close above will push the pair towards 2.1308 (Sep 8th 2023 high).

• Immediate support is seen at 2.1115(38.2% fib) and break below could take the pair towards 2.0999 (50% fib).

 Recommendation: Good to buy around 2.1130 , with stop loss of 2.1000  and target price of 2.1270