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FxWirePro:GBP/NZD consolidates around 2.0088 after early fall, maintains bullish bias

• GBP/NZD initially dipped on Wednesday  but recovered  ground as investors digested  U.S. inflation data.

• The U.S. Consumer Price Index (CPI) climbed 0.1% last month after advancing 0.4% in February, the Labor Department said on Wednesday.

• Technical signals are bullisgas RSI is heading down  at 68, daily momentum studies  5, 9 and 11 DMAs are trending up.

• Immediate resistance is located at 2.0091 (Daily high), any close above will push the pair towards 2.0168(23.6%fib).

• Immediate support is seen at 1.9951(38.2%fib) and break below could take the pair towards 1.9849 (10DMA).

Recommendation: Good to buy  round 2.0060 with stop loss of 1.9950 and target price of 2.0140

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