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• GBP/NZD eased on Thursday after data that showed a decline in British businesses' wage growth expectations for the coming year.
•A Bank of England survey revealed that British businesses' wage growth expectations for the coming year sharply dropped to 4.1% in May from 4.6% in April. On a three-month average, this measure fell to 4.5% from 4.8%.
• The technical outlook remains bearish and points to eventual bigger losses, Fourteen-day momentum is negative, reinforcing the scope for a bigger slump
• Immediate resistance is located at 2.0709 (38.2%fib), any close above will push the pair towards 2.0794(50%fib).
• Immediate support is seen at 2.0611(23.6%fib) and break below could take the pair towards 2.0575(Lower BB).
Recommendation: Good to sell around 2.0650, with stop loss of 2.0 720 and target price of 2.0570
