• GBP/ NZD traded in quiet range on Wednesday as longs ceded some ground ahead of US inflation report.
• Investors are focused on Thursday's U.S. inflation data, which looms large in a market hungry for clues on the path for Fed policy.
• At GMT 19:35, the pair was trading down 0.09 percent at 2.0996 , daily close above 23.6%fib will increase the scope for much bigger gains.
• From a technical viewpoint, the moving averages are pointing upwards, while the RSI is strongly bullish at 60.
• Immediate resistance is located at 2.1067 (23.6%fib), any close above will push the pair towards 2.1119 (Higher BB).
• Strong support is seen at 2.0950(5DMA) and break below could take the pair towards 2.0840 (38.2%fib)
Recommendation: Good to buy around 2.0990 with stop loss of 2.0810 and target price of 2.1100
