• GBP/NZD after initially gaining on Tuesday the pair gave some ground as investors awaited U.S. inflation data and the British GDP report .
•Thursday's US CPI data is this week's key data event, Traders will also keep an eye on UK GDP data
• In an up-and-down session, the pair hit high at 2.0439 in early trading then retreated towards 2.0346.
• Technical signals show the pair could gain more ground in the short-term as RSI is at 51, daily momentum studies 5, and 9 DMAs are trending up.
• Immediate resistance is located at 2.0439 (38.2%fib), any close above will push the pair towards 2.0544 (23.6%fib).
• Strong support is seen at 2.0350(50%fib) and break below could take the pair towards 2.0269 (61.8%fib)
Recommendation: Good to buy around 2.0360 with stop loss of 2.0250 and target price of 2.0460
