• GBP/NZD traded in quiet range as investors digested slightly disappointing UK pay growth data .
• Britain's statistics office reported that total earnings, including bonuses, also grew by 5.7% over the period, slower than 5.9% in the three months to April.
• GBP/NZD traded in a 2.1368 /2.1436 range and was last trading at 2.1417 in US afternoon.
• The daily relative strength indicator and fourteen-day momentum are in over-bought territory, adding to the retracement argument.
• Immediate resistance is located at 2.1447 (23.6%fib ), any close above will push the pair towards 2.1527 (Higher BB).
• Strong support is seen at 2.1338 (July 17th low ), and break below could take the pair towards 2.1297 (38.2%fib).
Recommendation: Good to sell on around 2.1430 with stop loss of 2.1550 and target price of 2.1350
