• GBP/ NZD rose on Friday as UK service PMI data boosted sterling against weaker kiwi dollar
• The PMI spanning services and manufacturing firms rose to 53.9 in April from 52.2 in March
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• Technical signals show the pair could gain more ground in the short-term as RSI is at 69 bullish, daily momentum studies 5, 9 and 11 DMAs are trending up.
• Immediate resistance is located at 2.0292 ( 38.2% fib), any close above will push the pair towards 2.0330 (Oct 17th 2022 high).
• Immediate support is seen at 2.0115(50% fib) and break below could take the pair towards 2.0093 (5DMA).
Recommendation: Good to buy around 2.0220, with stop loss of 2.0120 and target price of 2.0400
