Fxwirepro: GBP/NZD consolidates at above 2.0600, maintains bullish bias

• GBP/NZD strengthened on Wednesday as the pair remained largely well supported  by rising trendline. 

• Near term trend is likely to remain bullish as falling commodity and equity prices weigh on commodity linked New Zealand dollar.
• At GMT 16:54, the pair was trading 0.5% higher at 1. 9943, highest since March 13th.  .  
• Technically 21 day and 55-day moving average  remains positive and RSI is turning up.

• Immediate resistance is located at 2.0782 (50 % fib),any close above will push the pair towards 2.0995 (61.8% fib).

• Strong support is seen at 2.0520 (Trendline) and break below could take the pair towards 2.0450 (55 DMA).

Recommendation: Good to buy around 2.0670, with stop loss of 2.0480 and target price of 2.0900