• GBP/NZD traded in quiet range on Friday as investors focus turned to the Bank of England's meeting next week.
•BoE rate setters meeting on Thursday, where their updated macro economic projections will be released.
• A close above resistance at 38.2%fib will give further momentum to bulls, opening the way for a run towards 2.0950 level.
• Technical signals are bullish as RSI is at 56 ,daily momentum studies 9, 11 and 14 DMAs are trending up.
• Immediate resistance is located at 2.0898(38.2%fib),any close above will push the pair towards 2.0605 (38.2%fib).
• Immediate support is seen at 2.0778 (50 % fib) and break below could take the pair towards 2.0704 (14DMA).
Recommendation: Good to buy around 2.0840, with stop loss of 2.0750 and target price of 2.0950
