• GBP/NZD dipped slightly as traders positioned for a likely Andy Burnham premiership in Britain
• Markets continued to assess Burnham's Monday address, in which he outlined plans to decentralize power and foster regional growth through greater cooperation.
• Markets were initially cautious about a Burnham premiership amid expectations of higher borrowing and public spending.
• As political and fiscal uncertainty eases, market attention is shifting back to monetary policy, putting this week's U.S. payrolls report under the spotlight for clues on the Fed's near-term policy path.
• Tuesday's data confirmed Britain's economy grew 0.6% in the first quarter, in line with initial estimates and having little impact on markets
• Technicals leans bullish as RSI is at 61 bullish, and 9,11 and 14 DMA’s are trending up.
• Immediate resistance is located at 2.3483 (23.6%fib ), any close above will push the pair towards 2.3678(Higher BB).
• Strong support is seen at 2.3283 (38.2% fib) and break below could take the pair towards 2.3138(SMA 20).
Recommendation: Good to buy around 2.3320, with stop loss of 2.3220, and target price of 2.3520,
