• GBP/NZD rose sharply on Tuesday as increased risk appetite boosted sterling across the board .
• Sterling was also supported after BoE Chief Economist Huw Pill said Britain's central bank still cannot be sure that it has raised interest rates enough to tame inflation.
• The pair was trading was last trading at 1.9821 after hitting daily high at 1.9878.
• Technicals are favouring bullish sentiment as RSI is at 57 and the pair is trading above5, 11 & 14-DMAs.
• Immediate resistance is located at 1.9878 (23.6% fib), any close above will push the pair towards 1.9941 (Higher BB)
• Support is seen at 1.9738 (38.2% fib) and break below could take the pair towards 1.9692 (14DMA).
Recommendation: Good to buy around 1.9800, with stop loss of 1.9720 and target price of 1.9900
