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FxWirePro:GBP/NZD positions for another climb, eyes 2.0550 level

• GBP/NZD steadied on Thursday as hotter than expected U.S. inflation data  lifted the pair higher.

• A U.S. Labor Department report showed consumer prices increased more than expected in December as rents maintained their upward trend.

• The pair currently is approaching resistance at 38.2%fib. A break above   will unmask 2.0550  level in the short term.

• Technical signals show the pair could gain more ground in the short-term as RSI is at 57,while moving averages are trending higher.

• Immediate resistance is located at 2.0488(38.2%fib), any close above will push the pair towards 2.0562 (Higher BB).

• Immediate support is seen at 2.0415 (50%fib) and break below could take the pair towards 2.0337 (61.8%fib).

Recommendation: Good to buy around 2.0450, with stop loss of 2.0360  and target price of 2.0550

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