• GBP/ NZD rose on Thursday as rally was fuelled by hawkish speech from BoE MPC member Saunders.
• GBP/ NZD also rallied on stronger economic data as UK hiring surged in June as economy reopened.
• The number of employees on British company payrolls surged in June by the most since the start of the coronavirus pandemic
• Today’s rise has passed through the 38.2% fibonacci retrace point at1.9800 and now eyes the 23.6%fib at 1.9889.
• Immediate resistance is located at 1.9843 (Daily high), any close above will push the pair towards 1.9889 (23.6%fib).
• Support is seen at 1.9800(38.2%fib) and break below could take the pair towards 1.9731 (50%fib).
• Recommendation: Good to buy around 1. 9780, with stop loss of 1. 9670 and target price of 1. 9870
