FxWirePro: GBP/NZD maintains bearish bias with focus on 2.3100

•GBP/NZD dipped on Monday as  higher commodity prices and upbeat China's economic data  supported  kiwi dollar .

• Gold and silver prices jumped to new record peaks, while oil dipped on concerns about what a possible trade war between the U.S. and Europe could mean for global growth and demand.

• Data showed, China’s economy grew 5.0% last year, meeting the government’s target by capturing a record share of global goods demand to offset weak domestic consumption, though the strategy is becoming harder to sustain.

• On a quarterly basis, GDP grew 1.2 percent in the fourth quarter but faster than the forecast of 1.0 percent.

• Immediate resistance is located at 2.3308(38.2%fib), any close above will push the pair towards 2.3432(15th Jan high).

• Immediate support is seen at 2.3120 (38.2%fib) and break below could take the pair towards 2.3055(Lower BB).

Recommendation: Good to sell  around  2.3170, with stop loss of 2.3250 and target price of 2.3100