• GBP/ NZD initially dipped on Thursday but gave recovered ground as market digested expected BoE's 25 bps rate hike.
• The central bank raised rates to 1.25%, the highest since January 2009, and stuck to more gradual approach as it warned that UK's economy would shrink in the April-June period.
• At GMT 19:04, the pair was trading up 0.12 percent at 1.9407.
• Technical signals show the pair could gain more ground in the short-term as RSI is at 51while moving averages are trending higher.
• Immediate resistance is located at 1.9447(38.2%fib), any close above will push the pair towards 1.9550(Higher BB).
• Immediate support is seen at 1.9341 (11DMA) and break below could take the pair towards 1.9251 (23.6%fib).
Recommendation: Good to buy around 1.9390, with stop loss of 1.9250 and target price of 1.9500
