• GBP/NZD recovered towards 2.0800 level on Friday as sterling attracted bids on expectation Bank of England will keep Bank Rate at its current 5.25% level.
•Next week brings a raft of UK data, including gross domestic product and wage inflation - a key focus for the BoE.
• GBP/NZD recovers towards above 2.0790 and holds near the day's high in US session.
• Technical signals are bullish as RSI is trending up at 57 moving averages are pointing north.
• Immediate resistance is located at 2.0852 (23.6% fib), any close above will push the pair towards 2.0907( Higher BB).
• Immediate support is seen at 2.0707(38.2%fib) and break below could take the pair towards 2.0586 (50%fib).
Recommendation: Good to buy around 2.0770, with stop loss of 2.0680 and target price of 2.0860.
