FxWirePro: GBP/NZD positions for another climb, eyes 2.1300 level

• GBP/NZD picked up further upside momentum  on Friday as upbeat sentiment and stronger pound boosted the pair .
 
• investor confidence rose as expectations grew of an interest rate reduction by the Fed in September, following unexpected data revealing a decline in U.S. consumer prices for June, released on Thursday.

• Data on Thursday showed the UK economy grew more quickly than expected in May, which prompted traders to chop back their bets on an August rate cut from the Bank of England.

• GBP/NZD traded in  range 2.1161 -2.1240, the pair was last trading up 0.19 percent   at  2.1227.

.•Technicals signals are   bullish in short-term as RSI is trending higher at 75, moving averages are pointing north.

• Immediate resistance is located at 2.1248(23.6%fib), any close above will push the pair towards 2.1300 (Psychological level).

•Immediate support is seen at 2.1174 (38.2%fib ) and break below could take the pair towards 2.1108(50%fib).

Recommendation: Good to buy  around 2.1220, with stop loss of 2.1100 and target price of 2.1300