• GBP/NZD strengthened on Thursday after the Bank of England kept the size of its bond-buying programme unchanged and held its benchmark interest rate at a historic low.
• GBP/NZD initially dipped but found buyers at 1.9667, rally lifts the pair towards 1.9757.
• Technical signals show the pair could gain more ground in the short-term as RSI is turning up bullish, daily momentum studies 5, 9 are trending up.
• Immediate resistance is located at 1.9763 (50% fib), any close above will push the pair towards 1.9820 (11DMA).
• Immediate support is seen at 1.9663 (23.6% fib) and break below could take the pair towards 1.9569 (Lower BB).
Recommendation: Good buy around 1.6600, with stop loss of 1.6500 and target price of 1.6680
