FxWirePro: GBP/NZD loses momentum but outlook is bullish

• GBP/NZD eased  on  Thursday  as weak UK CBI data and dovish BoE rate view weighed on sterling .

• The CBI's monthly retail sales balance, a gauge of sales over the year to October, slumped to -36 from -14 in September.

• GBP/NZD has seen a 2.0724-2.0846 range on Thursday, it was last trading  down 0.19 % at 2.0834.

•  From a technical viewpoint, the moving averages are pointing upwardss, while the RSI  is  bullish at 56.

• Immediate resistance is located at 2.0918 (38.2% fib), any close above will push the pair towards 2.0966 (24th high).

• Strong support is seen at 2.0800(50% fib) and break below could take the pair towards 2.0749 (9DMA).

Recommendation: Good to buy    around 2.0810, with stop loss of 2.0760 and target price of 2.0900