• GBP/NZD recovered some ground on Thursday after BoE increased bond-buying and signalled more support ahead.
•The pair reaches 1.9439 after extending north from 1.9317. 1.9439 is the highest level since Nov 4th, 2020.
•The pair’s rise lagged momentum as Brexit and COVID health and concerns about negative rates capped gains.
• GBP/NZD remains vulnerable, only a break and daily close above 38.2% fib at 1.9512 will shift bias to the upside.
• Immediate resistance is located at 1.9466 (5 DMA),any close above will push the pair towards 1.9512 (38.2 % fib ).
• Immediate support is seen at 1.9339 (23.6% fib) and break below could take the pair towards 1.9300 (Psychological level )
Recommendation: Good to sell rally around 1.9450, with stop loss of 1.9600 and target price of 1.9380
