FxWirePro:GBP/NZD maintains bullish bias with focus on at 1.9100 level

• GBP/ NZD extended its yesterday’s bounce as investors focus turned next weeks RBNZ meeting .

• The market is almost fully priced for a move to 1.5% next week, and favours 25 basis points in May.

• The pair attemptingto breach resistance at 1.9060 ( 50% fib)   . A decisive break closure above could generate further gains.

• Any downside correction is likely to be temporary as barrier at 1.8909 (38.2% fib) is set to restricting lower move.

• Immediate resistance is located at 1.9060 ( 50% fib), any close above will push the pair towards 1.9196 ( 61.8% fib).

• Immediate support is seen at 1.8909 (38.2% fib)  and break below could take the pair towards 1.8728 (23.6% fib).

Recommendation: Good to buy around 1.9020, with stop loss of 1,8840  and target price of 1.9100