• GBP/ NZD traded in tight range on Friday as market digests comments from BoE's Pill.
•In his latest speech, Pill said that monetary policy could remain restrictive even after the BoE starts to cut rates.
•He also said real interest rates would rise as inflation and shorter-term inflation expectations ease back.
• A rally towards 2.0900 is possible if GBP/ NZD bulls overcome resistance at 23.6%fib.
• Technical signals show the pair could gain more ground in the short-term as RSI is at 64,while moving averages and MACD are trending higher.
• Immediate resistance is located at 2.0774 ( Daily high), any close above will push the pair towards 2.0843 (23.6%fib).
• Immediate support is seen at 2.0662 (38.2%fib) and break below could take the pair towards 1.20524(Feb 14th low).
Recommendation: Good to buy around 2.0730, with stop loss of 2.0650 and target price of 2.0900
