• GBP/ NZD rose on Thursday as investors focus shifted BoE’s next week meeting.
• Next week's Bank of England meeting could be a tipping point as further delaying the rise is likely to trigger another round of GBP selling against kiwi dollar.
• Today’s rebound left the pair hover near 1.9474 38.2% fibonacci retrace point, break above will push the pair towards 1.9550.
• From a technical viewpoint, RSI is strongly bullish at 56, daily momentum studies, 5, 9 and 11 daily MAs are pointing higher.
• Immediate resistance is located at 1.9474 (38.2% fib), any close above will push the pair towards 1.9889 (23.6%fib).
• Support is seen at 1.9351(50%fib) and break below could take the pair towards 1.9309 (50DMA).
• Recommendation: Good to buy around 1. 9450, with stop loss of 1. 9350 and target price of 1. 9550
