• GBP/NZD strengthened on Wednesday as broad New Zealand dollar weakness helped the pound shrug off weak UK inflation data.
• At GMT 15:05, the pair was trading 0.04% higher at 1.9660, slightly lower from session high at 1.9696
• Any downside correction is likely to be temporary as barrier at 1.9471 (38.2%fib) is set to restricting lower move.
• Technical signals are bullish as RSI is at 66, daily momentum studies 5,9,21 DMA are trending north.
• Immediate resistance is located at 1.9705 (23.6%fib ), any close above will push the pair towards 1.9796(19 Oct 2020 high).
• Immediate support is seen at 1.9590 (Daily low) and break below could take the pair towards 1.9480 (38.2%fib).
Recommendation: Good to buy on dips around 1.9610 with stop loss of 1.9500 and target price of 1.9750.


FxWirePro: USD/JPY edges higher as focus shifts to BOJ decision
FxWirePro- Major Pair levels and bias summary
Major Forex Pairs Action Bias: GBPUSD and AUDUSD Turn Extremely Bearish
FxWirePro: AUD/USD dips below lower range, bearish bias increases
FxWirePro- Major Pair levels and bias summary
FxWirePro: EUR/AUD regains upwards momentum but unable to hold above 50%fib level
FxWirePro: USD/ CNY remains soft ahead of Fed decision
FxWirePro : GBP/NZD strongly bearish despite upside attempts
FxWirePro: GBP/AUD gains above 1.9200 level , upside pressure builds
FxWirePro: USD/JPY eases ahead of Fed decision , Intervention risks linger
Buy the Dips on EUR/JPY: Bullish Structure Points to 188 Target Ahead of Fed
FxWirePro: NZD/USD neutral in the near-term, scope for downward resumption
EURUSD Spikes to 1.14306 on Fed Pause as Traders Eye Sell-the-Rally Setup
FxWirePro- Major Crypto levels and bias summary
JPY Pairs Action Bias: EURJPY Leads as Bullish Standout Amid Mixed Momentum 



