•GBP/ NZD initially eased on Thursday but rebounded strongly as pound rise was aided by surprise Bank of England rate hike.
•Bank of England unexpectedly raised its policy rate by 15 basis points as inflation pressures mounted in Britain.
•The is pair heading towards the 23.6% fib, as near term direction of the pair is likely to be driven by current price action.
•Technical signals show the pair could gain more ground in the short-term as RSI is at 60 bullish, daily momentum studies 5, 9 and 11 DMAs are trending up.
• Immediate resistance is located at 1.9626 (23.6% fib), any close above will push the pair towards 1.9708 (Higher BB).
• Immediate support is seen at 1.9570 (5DMA) and break below could take the pair towards 1.9468 (38.2%fib).
Recommendation: Good to buy around 1.9600, with stop loss of 1.9500 and target price of 1.9700
