FxWirePro: GBP/ NZD consolidating around 2.0440, bias is bullish

• GBP/ NZD initially dipped  on Tuesday  but   recovered some  of the ground as buying demand continued near 2.0430 level.

• GBP/NZD has seen a 2.0529 -2.0394 range on Tuesday, it was last trading at 2.0439  .

• Technicals   highlight upside risks. The 10- and 21-day moving averages lend support, daily RSI is bullish at 58.

• Immediate resistance is located at 2.0505 ( 5DMA), any close above will push the pair towards 1.8554 (Higher BB).

• Immediate support is seen at 2.0385 (38.2%fib) and break below could take the pair towards 2.0185 (50%fib).

Recommendation: Good to buy around 2.0430 , with stop loss of 2.0300  and target price of 2.0500