FxWirePro:GBP/NZD maintains bullish bias with focus on 1.9600 level
•GBP/ NZD gained on Thursday as BOE buys bond for the second day to stabilise the market.
•The pound posted its largest one-day gain against kiwi dollar since March 2020 and last traded at $1.9473, up 0.38%.
• Technical signals show the pair could gain more ground in the short-term as RSI is at 62 bullish, daily momentum studies 5, 9 and 11 DMAs are trending up.
•Immediate resistance is located at 1.9500 (Higher BB), any close above will push the pair towards 1.9223 (Higher BB).
• Immediate support is seen at 1.9399(38.2% fib) and break below could take the pair towards 1.9237 (50% fib).
• Recommendation: Good to buy around 1.9430, with stop loss of 1.9350 and target price of 1.9600
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