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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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