GBP/NZD 200-DMA breakout, long dips, target 1.9425

GBP/NZD has shown a breakout at 200-DMA, raising scope for further upside.
The pair has broken major trendline resistance at 1.9125, bias bullish.
Technical studies support upside.
Next major bull target lies at 1.9426 (Jan 25 high) ahead of 61.8% Fib at 1.9574.
We see weakness on retrace and close below 200-DMA.
Support levels - 1.9250 (200-DMA), 1.9167 (5-DMA)
Resistance levels - 1.9426 (Jan 25 high), 1.9574 (61.8% Fib)

Good to go long on dips, SL: 1.9250, TP: 1.9425/ 1.95/ 1.9570

Comment:

TP1/2 hit. Book partial profits at highs.