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• GBP/NZD rose sharply on Tuesday as increased risk appetite boosted sterling across the board .
• The Bank of England Governor Andrew Bailey is scheduled to speak on Wednesday and could give clues on the future path for monetary policy.
• The pair was trading was last trading at 2.0050 highest level since Oct 18th 2022 .
• Technicals are favouring bullish sentiment as RSI is at 67 and the pair is trading above5, 11 & 14-DMAs.
• Immediate resistance is located at 2.0050 (Daily high), any close above will push the pair towards 2.0160 (Oct 18th 2022 High)
• Support is seen at 2.0000 (38.2% fib) and break below could take the pair towards 1.9886(5DMA).
Recommendation: Good to buy around 2.0010, with stop loss of 1.9920 and target price of 2.0100
