• GBP/NZD recovered some ground on Wednesday as investors digested Federal Reserve interest rates decision .
• The Federal Reserve kept interest rates steady but cautioned that rising inflation and labor market risks are clouding the U.S. economic outlook.
• Investors are now turning their attention to the Bank of England’s policy meeting, set for Thursday, awaiting clues on future interest rate decisions.
• GBP/NZD remains vulnerable, only a break and daily close above at 2.2647 (Higher BB) will shift bias to the upside.
• Immediate resistance is located at 2.2513 (38.2%fib ), any close above will push the pair towards 2.2647 (Higher BB).
• Strong support is seen at 2.2187(23.6% fib) and break below could take the pair towards 2.2095 (Lower BB).
Recommendation: Good to sell on around 2.2400, with stop loss of 2.2500and target price of 2.2100
