• GBP/ NZD strengthened on Thursday as investors assessed the impact of rate hikes on the British economy.
• In an up-and-down session, the pair hit low at 2.0740 in early trading then gained towards 2.0800.
• A rally towards 2.0950 is possible if GBP/ NZD bulls overcome resistance at 23.6%fib.
• Technical signals show the pair could gain more ground in the short-term as RSI is at 64,while moving averages and MACD are trending higher.
• Immediate resistance is located at 2.0808 ( 23.6%fib), any close above will push the pair towards 2.0856 (Higher BB).
• Immediate support is seen at 2.0682 (5DMA) and break below could take the pair towards 1.20567(38.2%fib).
Recommendation: Good to buy around 2.0780, with stop loss of 2.0650 and target price of 2.0900
