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• GBP/NZD steadied on Wednesday after UK GDP data hinted that Britain is moving toward more sustained grow.
• UK GDP grew by 0.2% month-on-month - boosted by a rebound in retailing and house-building after a fall of 0.1% in December, in line with economists' expectations.
• The pair hit daily high at 2.0818 and was last trading at 2.0768 at (GMT 17:41). Sustained break at 23.6%fib resistance would open the door to 2.0900 level
• Technical are bullish, daily RSI is negative at 55, daily momentum studies 9 and 10 DMAs are trending up.
• Immediate resistance is located at 2.0818 (23.6%fib ), any close above will push the pair towards 1.9644 2.0888 (5th March high).
• Strong support is seen at 2.0674(38.2%fib) and break below could take the pair towards 2.0634 (7Feb low)
Recommendation: Good to buy around 2.0760, with stop loss of 2.0660 and target price of 2.0830
