• GBP/NZD steadied around 2.1200 level on Wednesday after a survey showed that Britain's services activity expanded at its fastest rate since April last month.
• In August, the S&P Global UK Services Purchasing Managers Index increased to 53.7 from July's 52.5, surpassing the preliminary estimate of 53.3.
• At (GMT 18:22) GBP/NZD was trading up 0.04 percent at 2.1205, its highest level since August 28th.
• Technical highlight upside risks for GBP/NZD, with momentum studies, 5, 10 and 21 DMAs tracking north.
• Immediate resistance is located at 2.1261 (38.2%fib), any close above will push the pair towards 2.1357 (Aug 22nd high).
• Immediate support is seen at 2.1151 (38.2%fib) and break below could take the pair towards 2.1087(50%fib).
Recommendation: Good to buyaround 2.1190, with stop loss of 2.1140 and target price of 2.1270
