• GBP/ NZD eased slightly on Wednesday as markets focused on nuances of the policy statement and the post-meeting presser by Fed Chair Jerome Powell.
• Market is positioned for a hawkish hold when the Fed decides later today.
• The pound erased Tuesday’ s gains against the kiwi dollar , the pair was last down at 0.25% at 2.1167
• Technical signals are bullish as RSI is at 59 bullish, daily momentum studies 5, 9 and 11 DMAs are trending up.
• Immediate resistance is located at 2.1258 ( 23.6% fib), any close above will push the pair towards 2.1308 (Sep 8th 2023 high).
• Immediate support is seen at 2.1115(38.2% fib) and break below could take the pair towards 2.0999 (50% fib).
Recommendation: Good to buy around 2.1130 , with stop loss of 2.1000 and target price of 2.1270
