GBP/USD needs bullish day end close, watch GBP/NZD

FX:GBPNZD   British Pound / New Zealand Dollar
The bullish tone in the pair gathered pace as dismal August non-farm payrolls and wage growth numbers forced markets to reconsider the possibility of the September Fed rate hike.

The spot currently trades around 1.3345. British Pound witnessed a bullish break yesterday after the UK manufacturing PMI printed way above estimates.

However, the bird needs to close above 1.3315 (23.6% of 1.5019-1.2789). Such a close would open doors for a further rally towards 1.3533 (June 29 high). On the other hand, a day end close below 1.3315 would keep the doors open for bears to make their presence felt next week.

GBP/NZD – Ready for rally

Look at the GBP/NZD daily chart . It shows breach of falling trendline and a bullish price RSI divergence. However, the cross has turned sideways.

In our opinion, a day end close in the GBP/USD             pair above 1.3315 would be a green signal for GBP/NZD cross to jump to 1.85 levels.
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