• GBP/NZD gained on Thursday as GBP benefited from strongly weaker New Zealand dollar.
• At GMT 20:14, the pair was trading up 0.34 percent at 2.0795 after reaching daily high at 2.0818.
• A rally towards is 2.0900 possible if GBP/NZD bulls overcome resistance at 23.6%fib.
• Technical are bullish, daily RSI is bullish at 55, daily momentum studies 9 and 10 DMAs are trending up.
• Immediate resistance is located at 2.0818 (23.6%fib ), any close above will push the pair towards 2.0883 (5th March high).
• Strong support is seen at 2.0674(38.2%fib) and break below could take the pair towards 2.0634 (7th Feb low)
Recommendation: Good to buy around 2.0770, with stop loss of 2.0660 and target price of 2.0850
