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FxWirePro:GBP/NZD retreats slightly but trend is still bullish

• GBP/ NZD initially gained on Monday  but rally fizzled as investors awaited key UK jobs data.

• key focus will be the weekly earnings growth data which remain above levels consistent with the Bank of England’s 2% inflation target.

• GBP/ NZD approached to test resistance 1.9449 (23.6% fib)but   retreated as   the pair  lost strength.
    
• Technical highlight upside risks for GBP/ NZD, with momentum studies, 5, 10 and 21 DMAs tracking north

• Immediate resistance is located at 2.0838 ( 23.6% fib), any close above will push the pair towards 2.0913 (Higher BB).

• Immediate support is seen at 2.0760 (Daily low) and break below could take the pair towards 2.0700 (38.2% fib).

 Recommendation: Good to buy around 2.0750, with stop loss of 2.0660  and target price of 2.0840
 

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