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FxWirePro: GBP/ NZD bulls overcome key tech level, A further gain is likely

• GBP/ NZD steadied  on Thursday  as traders anticipated  higher interest rate  by Bank of England  in light of recent inflation and wage data.

• Interest rate expectations have ticked higher this week after data on Tuesday showed British wage growth at a record high.

• At GMT 17:25, the pair was trading up 0.26 percent at 2.1499,after reaching daily high 2.1534.

• From a technical viewpoint, the moving averages are pointing upwards, while the RSI  is  strongly bullish at 72.

• Immediate resistance is located at 2.1534(Daily high), any close above will push the pair towards 2.1585(Higher BB).

• Strong support is seen at 2.1452 (23.6%fib) and break below could take the pair towards 2.1344 (5DMA ).

Recommendation: Good to buy around 2.1470 with stop loss of 2.1350  and target price of 2.1600
 

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