• GBP/ NZD initially dipped on Thursday but recovered ground on expectation Bank of England will raise rates next week.
• The BoE meets next week with a 75bp hike mostly favored versus the more than 100bp increase seen amid the recent mini-budget ructions.
• Technical signals are strongly bullish as RSI is bullish at 62, 5, 9,11 DMAs are trending up.
• Immediate resistance is located at 1.9981(Daily high), any close above will push the pair towards 2.0108 (23.6%fib).
• Immediate support is seen at 1.9807 (38.2%fib) and break below could take the pair towards 1.9633 (30DMA).
Recommendation: Good buy around 1.9840, with stop loss of 1.9700 and target price of 2.0000
