• GBP/ NZD initially gained on Thursday but gave up ground as investors digested Fed, ECB meetings and looked ahead for BoE.
• The ECB meeting has passed, the market will likely quickly switch its focus to the BoE meeting next week.
• The pound erased Wednesday’s gains against the kiwi dollar , the pair was last down at 0.64% at 2.0698
• Technical signals are bullish as RSI is at 54 bullish, daily momentum studies 5, 9 and 11 DMAs are trending up.
• Immediate resistance is located at 2.0743 ( 38.2% fib), any close above will push the pair towards 2.0851 (Daily high).
• Immediate support is seen at 2.0684(21DMA) and break below could take the pair towards 2.0609 (50% fib).
Recommendation: Good to buy around 2.0690 , with stop loss of 2.0550 and target price of 2.0790
