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FxWirePro:GBP/NZD buoyancy keeps consolidation intact, set for further gains

• GBP/ NZD strengthened on Tuesday as hawkish comments from Bank of England and rally in equity boosted pound.

• BoE chief economist Huw Pill said on Tuesday the central bank would need to raise interest rates further in the near future to tackle surging inflation.

• Today’s rise has passed through the 14DMA at 1.9420 and now eyes the 38.2%fib resistence.

• Immediate resistance is located at 1.9465(38.2%fib), any close above will push the pair towards 1.9514 (Higher BB).

•  Support is seen at 1.9375(14DMA) and break below could take the pair towards 1.9320 (50%fib).

 Recommendation: Good to buy around 1. 9390, with stop loss of 1. 9250 and target price of 1. 9460
 

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