• GBP/ NZD strengthened on Wednesday as easing lockdowns and positive UK GDP data lifted the pair.
• Britain’s economy grew faster than previously thought in the final three months of last year, with gross domestic product rising 1.3% from the previous quarter, data showed on Wednesday.
• GBP/NZD has seen a 1.9643-1.9714 range on Wednesday, chart points to an overshoot above 1.9800 and beyond.
• Immediate resistance is located at 1.9776 ( Higher BB), any close above will push the pair towards 1.9813 (23.6% fib).
• Immediate support is seen at 1.9707 (9DMA) and break below could take the pair towards 1.9563 (38.2%fib).
Recommendation: Good to buy around 1.9700, with stop loss of 1.9600 and target price of 1.9800
