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FxWirePro:GBP/NZD positions for another climb, eyes 2.1000 level

• GBP/NZD steadied on Monday as traders looked past last week’s retail sales as strong UK inflation report supported pound.

• This week  the UK's economic schedule will include the release of S&P Global Flash PMIs on Wednesday, along with the unveiling of the UK's Business Confidence indicator.

• The pair currently is approaching resistance at 23.6%fib . A break above   would unmask 2.1000 level in the short term.

• Technical signals show the pair could gain more ground in the short-term as RSI is at 75,while moving averages are trending higher.

• Immediate resistance is located at 2.0905(23.6%fib), any close above will push the pair towards 2.1000(Higher BB).

• Immediate support is seen at 2.0777 (38.2%fib) and break below could take the pair towards 2.0663 (50%fib).

Recommendation: Good to buy around 2.0900  with stop loss of 2.0750  and target price of 2.0980

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