FxWirePro:GBP/NZD maintains bullish bias with focus on 1.9700
• GBP/ NZD gained on Friday as investors dumped commodity linked currencies like Kiwi dollar on uncertainty sparked by the Omicron coronavirus variant.
• Bulls have tightened their grip after registering a close above the 1.9352 (38.2%fib),scope grows for bigger gains towards 1.9700.
• Technical signals are strongly bullish as RSI is bullish at 68, 5, 9,11 DMAs are trending up.
• Immediate resistance is located at 1.9636(23.6%fib), any close above will push the pair towards 1.9684 (Higher BB).
• Immediate support is seen at 1.9529(38.2%fib) and break below could take the pair towards 1.9453 (5DMA).
Recommendation: Good buy around 1.9600, with stop loss of 1.9500 and target price of 1.9700