• GBP/NZD firmed on Thursday as investors digested US economic data and awaited Friday’s UK GDP data.
• The U.K.'s GDP for January will be released this Friday, providing further insight into the health of the U.K. economy.
• This data is crucial in helping investors gauge the outlook for economic growth, and its impact could be pivotal in determining the next move for the pound.
• Technical signals show the pair could gain more ground in the short-term as RSI is at 70,while moving averages and MACD are trending higher.
• Immediate resistance is located at 2.2718(23.6%fib), any close above will push the pair towards 2.2852(Higher BB).
• Immediate support is seen at 2.2491 (38.2%fib) and break below could take the pair towards 2.2017(50%fib).
Recommendation: Good to buy around 2.2700, with stop loss of 2.2630, and target price of 2.2800
