• GBP/ NZD strengthened on Thursday as widening UK-US rate differentials lifted the pair after less-hawkish Fed minutes.
• Bank of England (BoE) and Fed policy rates are priced competitively at 1.59% and 1.50%.
• Today’s rise has passed through the 38.2%fib fibonacci retrace point at 2.0361 and now eyes the 23.6%fib at 2.0463.
• Immediate resistance is located at 2.0463(23.6%fib), any close above will push the pair towards 2.0527(Higher BB).
• Support is seen at 2.0361 (38.2%fib) and break below could take the pair towards 2.0262 (30DMA).
Recommendation: Good to buy around 2.0340, with stop loss of 2.0200 and target price of 2.0460
