• 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
