• GBP/NZD steadied on Wednesday as traders awaited Bank of England's policy announcement on Thursday.
• UK interest rates are anticipated to remain steady when the BoE announces policy on Thursday, with markets fully pricing in the first interest rate decrease by the June meeting.
• The pair is approaching resistance at 23.6%fib . A break above would unmask 2.850 level in the short term.
• Technical signals show the pair could gain more ground in the short-term as RSI is at 58,while moving averages are trending higher.
• Immediate resistance is located at 2.0792(23.6%fib), any close above will push the pair towards 2.0847(Jan 29th high).
• Immediate support is seen at 2.0654 (38.2%fib) and break below could take the pair towards 2.0553 (50%fib).
Recommendation: Good to buy around 2.0730 with stop loss of 2.0650 and target price of 2.0830
