• GBP/NZD dipped on Thursday after the Bank of England decided to keep interest rates on hold
• The Bank of England kept interest rates on hold as it waits to see how the Iran war affects inflation pressures, although the renewal of hostilities prompted a third policymaker to back a rate hike.
• BoE policymakers signaled they are prepared to wait for additional inflation data before making further policy adjustments, particularly given recent volatility in oil prices.
• Governor Andrew Bailey reiterated that the central bank has the flexibility to "wait and see" as it assesses incoming economic data.
• Immediate resistance is located at 2.2961 (50%fib), any close above will push the pair towards 2.3116(SMA20).
• Immediate support is seen at 2.2743 (38.2%fib) and break below could take the pair towards 2.2656(Lower BB).
Recommendation: Good to sell around 2.2960 , with stop loss of 2.3000 and target price of 2.2900
