FxWirePro:GBP/NZD intraday upside momentum strong after UK CPI data

• GBP/NZD rose past 1.9300 on Wednesday as  upbeat UK CPI  data boosted the cross pair.

• British inflation rose a little more than expected in January as the country went back into a coronavirus lockdown.

• Underlying trend for the pair remains strongly bullish. A break below 1.9340 (23.6%fib) might spur increased upward momentum.  

• Immediate resistance is located at 1.9340 (23.6%fib), any close above will push the pair towards 1.9400 (Psychological level).

• Strong support is seen at 1.9184 (38.2%fib) and break below could take the pair towards 1.9129 (9DMA).

Recommendation: Good to buy around 1.9320, with stop loss of 1.9200 and target price of 1.9410.