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FxWirePro:GBP/NZD losses momentum outlook is bullish

• GBP/ NZD dipped on Friday as investors digested raft of UK data releases

• Britain's dominant services sector rose by 0.1%, boosted by a nearly 11% jump for travel agents, echoing other data which has pointed to a surge in demand for holidays.

• Business investment fell 0.2% in quarterly terms, a sharp downgrade from a first estimate of a 4.8% rise after changes to the way the ONS calculates seasonal adjustments.

• Technical signals are strongly bullish  as RSI is bullish at 60, 5, 9,11 DMAs are trending up. 

• Immediate resistance is located at 1.9801(Daily high), any close above will push the pair towards 1.9883 (23.6%fib).

•  Immediate support is seen at 1.9677 (38.2%fib) and break below could take the pair towards 1.9654 (14DMA).

Recommendation: Good buy around 1.9740, with stop loss of 1.9600 and target price of 1.9850

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