• GBP/NZD firmed on Tuesday as GBP benefited from strong UK jobs data .
• UK payrolls and earnings data came higher, with the unemployment rate falling below pre-pandemic levels.
• Strong jobs data supported the prospect of a Bank of England rate hike. Money markets are fully pricing in a 25 basis points BoE interest rate hike on Thursday.
• The is pair heading towards the 1.9450 (14DMA), as near term direction of the pair is likely to be driven by current price action.
• Immediate resistance is located at 1.9350 (50%fib), any close above will push the pair towards 1.9509 (61.8% fib).
• Strong support is seen at 1.9225(38.2%fib) and break below could take the pair towards 1.9033(23.6%fib).
Recommendation: Good to buy around 1.9270, with stop loss of 1.9040 and target price of 1.9350
