FxWirePro: GBP/NZD rises to ten-month high, maintains bullish bias

• GBP/NZD rose higher to hit ten month high  on Monday  as sterling attracted buyers ahead   key UK  economic data  .

• Traders will focus on Wednesday’s UK CPI report, Thursday’s UK jobs report, and Friday’s Retail Sales reading.

• GBP/NZD   hit a 10 month high, it was last  trading  around 2.1345 in late US session.

• From a technical viewpoint, the moving averages are pointing upwards, while the RSI  is strongly bullish at 79.

•   Immediate resistance is located at 2.1372 (23.6% fib), any close above will push the pair towards 2.1417 (Higher BB).

• Strong support is seen at 2.1231 (38.2% fib ) and break below could take the pair towards 2.1174 (Jul 12th low).

Recommendation: Good to buy around 2.1330, with stop loss of 2.1200 and target price of 2.1390