FxWirePro:GBP/NZD attracts buying interest, 38.2% fibonacci eyed
• GBP/ NZD gained on Wednesday as optimism that Brexit talk could produce tangible results lifted the pair.
• GBP/ NZD also received an added boost in early U.S. trade after BoE Deputy Governor Dave Ramsden reiterating the MPC's view that now was not the time to use negative rates.
• At GMT 18:10, the pair was last trading at 1.9720, after hitting daily high at 1. 9751.
• GBP/ NZD bulls look set to break resistance at 1. 9770 (38.2% fib).Break of that resistance could lead to test of 1.9894 resistance (200DMA).
• Support is seen at 1.9700(Psychological level) and break below could take the pair towards 1.9628 (50%fib).
Recommendation: Good to buy around 1. 9680, with stop loss of 1. 9500 and target price of 1. 9780