• GBP/NZD continued to declineon Friday following the release of weaker-than-expected monthly US core inflation data.
•The personal consumption expenditures (PCE) price index, widely seen as the Fed's favoured inflation indicator, increased 0.3% last month, in line with expectations while core PCE rose 0.2% compared with 0.3% in March.
• The pound was 0.43% lower against the kiwi dollar at 2.0733 , The pair traded in range 2.0709/ 2.0834 on Friday.
• The technical outlook remains bearish and points to eventual bigger losses, Fourteen-day momentum is negative, reinforcing the scope for a bigger slump
• Immediate resistance is located at 2.0840(Daily high), any close above will push the pair towards 2.0851(38.2%fib).
• Immediate support is seen at 2.0709(23.6%fib) and break below could take the pair towards 2.0665(Lower BB).
Recommendation: Good to sell around 2.0740, with stop loss of 2.0860 and target price of 2.0690
