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FxWirePro:GBP/NZD maintains bullish bias with focus on 2.0550

• GBP/ NZD strengthened on Wednesday  as sterling was boosted by increased expectation Bank of England will raise interest rate .

• Markets will focus on BoE pressers on Thursday, for hints at near-term rate paths, velocity.

• Bulls have tightened their grip after registering a close above the 2.0437 (5DMA),scope grows for bigger gains towards 2.0550. 

• Technical signals are strongly bullish  as RSI is bullish at 75, 5, 9,11 DMAs are trending up. 

• Immediate resistance is located at 2.0499 (23.6%fib), any close above will push the pair towards 2.0550 (Oct 1st 2019).

• Immediate support is seen at 2.0437 (5DMA) and break below could take the pair towards 2.0330(38.2%fib).

Recommendation: Good buy around 2.0440, with stop loss of 2.0330, and target price of 2.0550
 

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