• GBP/NZD strengthened on Thursday as the attracted bids despite weaker UK PMI data.
• The preliminary S&P Global Flash Composite Purchasing Managers' Index for October showed confidence was the lowest since November 2023.
•Separately, the Confederation of British Industry said its measure of optimism among manufacturing firms fell at the fastest pace in two years.
•Rally towards is 2.1700possible if GBP/NZD bulls overcome resistance at 23.6%fib
• Immediate resistance is located at 2.1609(23.6%fib), any close above will push the pair towards 2.1697 (Higher BB).
• Immediate support is seen at 2.1551 (Daily low) and break below could take the pair towards 2.1506(38.2%fib).
Recommendation: Good to buy around 2.1580, with stop loss of 2.1500 and target price of 2.1700
