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• GBP/NZD after initially falling the pair gave some ground as investors assessed UK rate cut procspect.
• In an up-and-down session, the pair hit low at 2.0956 in early trading then recovered towards 2.1022.
• Technical signals bullish as RSI is up at 53, daily momentum studies 5, and 9 DMAs are trending up.
• Immediate resistance is located at 2.1047 (38.2%fib), any close above will push the pair towards 2.1118 (Higher BB).
• Strong support is seen at 2.0947 (38.2%fib) and break below could take the pair towards 2.0873 (Lower BB )
Recommendation: Good to buy around 2.1000 with stop loss of 2.0900 and target price of 2.1110
