• GBP/ NZD rose on Tuesday after data showed British employers added a record 241,000 staff to their payrolls last month.
• The strong jobs data comes days after BoE Governor Andrew Bailey said Monetary Policy Committee members were last month split 4-4 between those who felt the minimum conditions for considering a rate hike.
• GBP/NZD has seen a 1.9403-1.9508 range on Wednesday, chart points to an overshoot above 1. 9500
• Immediate resistance is located at 1.9475(38.2%fib), any close above will push the pair towards 1.9560 (23.6%fib).
• Support is seen at 1.9442(5DMA) and break below could take the pair towards 1.9407 (50%fib).
Recommendation: Good to buy around 1. 9450, with stop loss of 1. 9350 and target price of 1. 9520
