FxWirePro: GBP/ NZD steadies around 2.0550, retains bid tone

• GBP/ NZD strengthened  on Wednesday as  traders focused on sticky inflation and the outlook for Bank of England monetary policy.

•  At 14:26   GMT, the pound was up against kiwi dollar at 2.0549, the pair hit daily high at 2.0556

•  A daily close above   5DMA will further improve the technical outlook, and open the possibility of a rally towards 2.0600  level.

• Immediate resistance is located at 2.0526  (5DMA), any close above will push the pair towards 2.0633  (23.6%fib).

• Support is seen at 2.0375 (38.2%fib) and break below could take the pair towards 2.0221 (May 25th low).

Recommendation: Good to buy around 2.0530, with stop loss of 2.0450 and target price of 2.0600