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FxWirePro:GBP/ NZD poised for further downside, eyes support 2.1350 level

• GBP/ NZD steadied   on Monday  as investors looked ahead of data-heavy week.

•Traders are now awaiting wage and employment data due at 0600 GMT on Tuesday for more direction on the central bank's next move.

• A rally towards 2.1350 is   possible if  GBP/ NZD bulls overcome resistance at 23.6%fib.

• Technical signals show the pair could gain more ground in the short-term as RSI is at 58,while moving averages and MACD are trending higher.

• Immediate resistance is located at 2.2177 ( 23.6%fib), any close above will push the pair towards 2.1300(Psychological level).

• Immediate support is seen at 2.2102 (5DMA) and break below could take the pair towards 1.20987 (38.2%fib).

Recommendation: Good to buy around 2.1220, with stop loss of 2.1200 and target price of 2.1350

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