• GBP/ NZD strengthened on Wednesday after latest UK inflation numbers reinforced bets that the BoE will likely hike interest rates again.
• The annual consumer price inflation rate cooled to 6.8% from June's 7.9%, the Office for National Statistics said.
• At GMT 17:27, the pair was trading up 0.35 percent,highest level since since 2nd March 2020.
• From a technical viewpoint, the moving averages are pointing upwards, while the RSI is strongly bullish at 68.
• Immediate resistance is located at 2.1432(23.6%fib), any close above will push the pair towards 2.1485(Higher BB).
• Strong support is seen at 2.1252 (5DMA) and break below could take the pair towards 2.1201 (38.2%fib )
Recommendation: Good to buy around 2.1400 with stop loss of 2.1300 and target price of 2.1500
