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FxWirePro: GBP/ NZD key resistance keeps bulls frustrated

• GBP/NZD strengthened  on Tuesday as GBP benefited from weaker kiwi  dollar, but gains were limited on worries about Brexit risks and economic woes.

• The rallied above 1.9500 level, lift stops after finding resistance at 1.9533 (23.6%fib ).

• Pair traded in   1.9457/1.9527 range and was last trading at 1.9495 into the US afternoon.

•  Technical are bullish, daily RSI is negative at 55, daily momentum studies  5,9 and 11 DMAs are trending up. 

• Immediate resistance is located at 1.9533 (23.6%fib ), any close above will push the pair towards 1.9581(Higher BB).

• Strong support is seen at 1.9424 (9DMA) and break below could take the pair towards 1.9382 (38.2%fib).

Recommendation: Good to buy   around 1.9470, with stop loss of 1.9360 and target price of 1.9550

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