FxWirePro:GBP/NZD eyes key fibo resistance after rallying off from 1.9547

• GBP/ NZD rose on Wednesday as weaker New Zealand dollar and   comments from UK PM Johnson on reopening UK economy lifted the pair.

• GBP/ NZD rebounded from daily low, keeping bullish sentiment intact as the pair found support   at 50%fib (1.9480).

• A close above 1.9636 (23.6%fib), should trigger a new bullish phase with potential for 1.9700. A break under 1.9555 would unmask 1.9500 level in the short term. 

• Technical signals are bullish as RSI is at 54, 21, 30 DMAs are trending up. 

• Immediate resistance is located at 1.9600 (Daily high), any close above will push the pair towards 1.9636 (23.6%fib).

•  Immediate support is seen at 1.9555 (38.2% fib) and break below could take the pair towards 1.9480 (50%fib).

Recommendation: Good to buy 1.9550, with stop loss of 1.9400 and target price of 1.9640