FxWirePro: GBP/NZD drifts lower ahead of busy UK economic calendar

• GBP/NZD  slipped lower on Monday as investors awaited a batch of inflation and labour market data.

• UK employment and earnings data due Tuesday will be closely watched for fresh clues on the Bank of England’s monetary-policy path. Wage growth has been easing, making the labour-market figures particularly important for assessing underlying inflation pressure.

• Wednesday’s UK CPI, PPI and RPI figures will provide further insight into inflation trends and could influence expectations for Bank of England rate moves through the end of 2026. Headline CPI is expected to rise to 2.9% y/y, although softer services inflation would temper the hawkish impact.

• Interest-rate pricing indicates markets expect the MPC to remain on hold in September, while pricing currently points to around 31 basis points of tightening by the December meeting.

• Immediate resistance is located at 2.3126(Higher BB), any close above will push the pair towards 2.3189(61.8%fib).

• Immediate support is seen at 2.2939(50%fib) and break below could take the pair towards 2.2805(Lower BB).

Recommendation: Good to sell around 2.3000 , with stop loss of 2.3100 and target price of 2.2900