• GBP/NZD traded in tight range on Friday as investors awaited next week's UK inflation reading .
• UK consumer price inflation data, expected on Wednesday, will be analyzed for clues on the timing of the first Bank of England interest rate cut.
• The is pair heading towards the 23.6% fib support, as near term direction of the pair is likely to be driven by current price action.
• Technical are bearish, daily RSI is negative at 38, daily momentum studies 11 and 14 DMAs are trending down.
• Immediate resistance is located at 2.0733 (Daily high), any close above will push the pair towards 2.0799 (38.2% fib).
• Strong support is seen at 2.0681 (23.6% fib)and break below could take the pair towards 2.0635 (Lower BB).
Recommendation: Good to sell on around 2.0720 , with stop loss of 2.0900 , and target price of 2.0630
