• GBP/NZD rose higher as better than expected UK growth data benefitted pound across the board .
•The UK economy expanded more rapidly than previously estimated in the second quarter, maintaining its status as the G7’s fastest-growing economy in the first half of 2026 ahead of John Healey’s October budget.
•UK economic output expanded by 0.5% in the April-to-June period, the Office for National Statistics said on Wednesday.
• Alan Taylor of the Bank of England said it was uncertain whether the central bank could raise rates just once to tame inflation without prompting markets to anticipate further tightening.
• Amid renewed expectations of tighter monetary policy globally, traders are fully pricing in at least one 25-basis-point BoE rate hike this year.
• Immediate resistance is located at 2.2551 (23.6%fib), any close above will push the pair towards 2.3612(Higher BB).
• Immediate support is seen at 2.3397(38.2%fib) and break below could take the pair towards 2.3326(SMA 20).
Recommendation: Good to buy around 2.3520, with stop loss of 2.3400 and target price of 2.3600
