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FxWirePro: GBP/NZD steadies around 2.1835, retains bid tone

• GBP/NZD held onto slight gains on Friday as investors   focus switched to next week's Bank of England meeting.

• The Bank of England meets next week, and markets currently see about a 50/50 chance of a rate cut.

• At GMT 17:18, the pair was trading up 0.02 percent  at 2.1832 after reaching daily high at 2.1863.

•  Technical highlight upside risks for GBP/NZD, with momentum studies, 5, 10 and 21 DMAs tracking north. 

• Immediate resistance is located at 2.1846 (23.6%fib), any close above will push the pair towards 2.1926 (23.6%fib).

• Strong support is seen at 2.1763 (Daily low) and break below could take the pair towards 2.1633(38.2%fib).

Recommendation: Good to buy around 2.1830, with stop loss of 2.1700 and target price of 2.1880
 

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