FxWirePro: GBP/NZD extends gains, 23.6% fib resistance

• GBP/NZD climbed on Thursday as the British pound strengthened following positive UK economic data.

• Data on Thursday showed that Britain's economy expanded 0.1% in August from July, in line with analyst estimates, offering a small boost to finance minister Rachel Reeves ahead of her November budget.

•The UK economy has been struggling with low growth and the highest level of inflation among advanced economies, complicating the task for Bank of England policymakers, who held interest rates at 4% last month.

•Investor attention is now turning to next week's inflation data, which could influence whether the BoE reduces rates in November or December, or waits until early 2026.

• Technical signals show the pair could gain more ground in the short-term as RSI is at 72 bullish, daily momentum studies  5, 10 and 21 DMAs are trending  up.

• Immediate resistance is located at 2.3508(23.6%fib), any close above will push the pair towards 2.3558(Higher BB).

• Immediate support is seen at 2.3269 (38.2%fib) and break below could take the pair towards 2.3188(SMA20).

Recommendation: Good to buy around 2.3450, with stop loss of 2.3230, and target price of 2.3560