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FxWirePro:GBP/NZD runs out of steam but maintains bullish outlook

• GBP/NZD initialled dipped  on Tuesday after data showed UK basic pay growth slowed for first time in a year but loses were limited after in-line with expectation U.S. inflation data

• Data showed   growth in pay in Britain lost pace in the three months to January.

• At GMT 16:57, The pound was 0.17% lower against the kiwi dollar  at 1.9541,  off the previous day's top of 1.9643

• Technical signals are bullish as RSI is rising at 59, daily momentum studies  5, 9 and 11 DMAs are trending up. 

• Immediate resistance is located at 1.9638(23.6%fib), any close above will push the pair towards 1.9706 (Higher BB  )

• Strong  support is seen at 1.9533 (5DMA) and break below could take the pair towards 1.9486 (38.2%fib).

Recommendation: Good   buy   around 1.9510, with stop loss of 1.9390 and target price of 1.9600

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