• GBP/ NZD strengthened on Wednesday as sterling was boosted by UK CPI data.
• Data showed UK inflation surged to a 10-year high last month, backing expectations of an interest rate hike as early as next month.
• GBP/ NZD bulls have tightened their grip on this market,A break, daily close above 1.9282 ( 23.6% fib) could increase uptrend for the pair.
• Technical signals show the pair could gain more ground in the short-term as RSI is at 56 bullish, moving averages are trending up
• Immediate resistance is located at 1.9282 ( 23.6% fib), any close above will push the pair towards 1.9333(Higher BB).
• Immediate support is seen at 1.9185 (38.2% fib) and break below could take the pair towards 1.9102 (50% fib).
• Recommendation: Good to buy around 1.9250, with stop loss of 1.9180 and target price of 1.9320
