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• GBP /NZD eased on Thursday as investors focus began turning to next week's UK budget.
• British finance minister Jeremy Hunt is expected to cut taxes but is hemmed in by promises to tackle Britain's approximately 2.5 trillion pounds ($3.2 trillion) of debt.
• GBP /NZD struggled to break resistance at 2.0837 (23.6% fib) and dipped to hit daily low at 2.0719.
• From a technical viewpoint, RSI is strongly bullish at 62, daily momentum studies, 5, 9 and 11 are trending up.
• Immediate resistance is located at 2.0837 (23.6% fib), any close above will push the pair towards 2.0871(Higher BB).
• Immediate support is seen at 2.0677 (38.2% fib) and break below could take the pair towards 2.0562 (50%fib).
Recommendation: Good to buy on dips around 2.0720, with stop loss of 2.0600 and target price of 2.0800
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