• GBP/NZD eased on Tuesday after data showed Britain's labour market weakened in July, even as wage growth stayed strong.
•Data showed UK's unemployment rate ticked up to 4.3% in the three months to July, from 4.2% in June. However, average weekly earnings growth climbed to 8.5% in annual terms, up from 8.4% a month earlier.
• GBP/NZD focus is on 2.1087 (38.2% fib), a break below will accelerate further losses.
• Technical signals show the pair could lose more ground in the short-term as RSI is at 49 bearish, daily momentum studies 5, 10 and 21 DMAs are trending down.
• Immediate resistance is located at 2.1164 (9 DMA),any close above will push the pair towards 2.1337 (23.6 % fib ).
• Immediate support is seen at 2.1087 (38.2% fib) and break below could take the pair towards 2.0992 (Lower BB ).
Recommendation: Good to sell below 2.1170, with stop loss of 2.1300 and target price of 2.1080
