• GBP/ NZD steadied on Wednesday as UK consumer inflation stayed in double-digit territory, boosting bets for one more rate hike from the BoE at its May monetary policy meet.
• On Tuesday data showed British wages rose faster than anticipated last month, further supporting more hikes by the BoE.
• GBP/ NZD bulls have to contend with strong resistance at 2.0119. If GBP/ NZD longs overcome that level rise towards 2.0200 is likely .
• Immediate resistance is located at 2.0119(Daily high), any close above will push the pair towards 2.0181(Higher BB).
•Support is seen at 1.9977(38.2%fib) and break below could take the pair towards 1.9904(14DMA).
Recommendation: Good to buy around 2.0040, with stop loss of 1. 9940 and target price of 2.0120
