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FxWirePro: GBP/NZD steadies around 2.0770, retains bid tone

• 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

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