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•GBP/NZD dipped on Monday as investors looked ahead release of New Zealand's fourth-quarter labor market data
• Economists forecast the unemployment rate will slip to 5.2% from 5.3% in Q3, marking the first drop in four years and suggesting signs of stabilization in the labor market.
• Employment change is expected to return to positive territory after two straight quarterly declines, with some analysts forecasting the strongest job growth in nearly two years.
.• Immediate resistance is located at 2.2852(50%fib), any close above will push the pair towards 2.3000(Psychological level).
• Immediate support is seen at 2.2659 (38.2%fib) and break below could take the pair towards 2.2555(SMA 20).
Recommendation: Good to sell around 2.2750, with stop loss of 2.2850 and target price of 2. 2.2650
