• GBP/NZD declined on Thursday after data showed Britain's economy fell into a recession in the second half of 2023.
• Gross domestic product (GDP) contracted by 0.3% in the three months to December, having shrunk by 0.1% between July and September, official data showed.
•The fourth-quarter contraction was deeper than all economists' estimates in a poll, which had pointed to a 0.1% decline.
• A close below support at 38.2%fib will give further momentum to bears, opening the way for a run towards 2.0450 level.
• Immediate resistance is located at 2.0684 (50%fib), any close above will push the pair towards 2.0802 (61.8%fib).
• Immediate support is seen at2.0532 (38.2%fib ), break below could take the pair towards 2.0483 (Lower BB).
Recommendation: Good to sell around 2.0630 with stop loss of 2.0740 and target price of 2.0520


FxWirePro- Major Crypto levels and bias summary
FxWirePro: GBP/USD stays below 1.3400 level following cooler inflation report
FxWirePro: EUR/ AUD downtrend loses steam, remains on bearish path
FxWirePro: USD/CAD edges lower but bullish outlook persists
FxWirePro: EUR/AUD neutral in the near term, scope for downward resumption
FxWirePro: GBP/AUD downtrend loses steam but outlook still bearish
Major Pairs Bias: USDCHF Bullish While GBPUSD Turns Bearish
FxWirePro: GBP/AUD bears maintain upper hand
FxWirePro: AUD/USD rallies on jobs surge, heads to test key resistance
FxWirePro: EUR/NZD firms after ECB holds rates steady at 2.25%
FxWirePro: GBP/USD slips as middle east tensions and oil surge pressure pound
FxWirePro: GBP/NZD gains some ground but outlook is bearish
FxWirePro- Woodies pivot (Major)
FxWirePro: USD/ZAR surges as rand slumps after SARB rate hold surprise 



