• GBP/ NZD rose on Wednesday as expectations that the Bank of England will raise interest rates as early as next month and risk on vibe boosted pound.
• GBP/ NZD glommed onto the rally, despite Fed meeting and U.S. non-farm payrolls event risk.
• Today’s rise has passed through the 38.2% fibonacci retrace point at 1.9923 and now eyes the 23.6%fib .
• Immediate resistance is located at 2.0000 (Higher BB), any close above will push the pair towards 2.0076 (23.6%fib).
• Support is seen at 1.9923 (38.2%fib).and break below could take the pair towards 1.9872 (5DMA).
• Recommendation: Good to buy around 1. 9940, with stop loss of 1. 9860 and target price of 2.0080
