• GBP/ NZD strengthened on Friday as weaker China economic data and mounting geopolitical tension weighed on Kiwi dollar
• Data released on Friday showed, China's consumer prices faltered and factory-gate prices shrunk slightly faster than expected last month compared with a year earlier .
• Bulls have tightened their grip after registering a close above the 2.0560 (38.2%fib),scope grows for bigger gains towards 2.0700.
• Technical signals are strongly bullish as RSI is bullish at 62, 5, 9,11 DMAs are trending up.
• Immediate resistance is located at 2.0660 (23.6%fib), any close above will push the pair towards 2.0723 (22nd Sep high).
• Immediate support is seen at 2.0560 (38.2%fib) and break below could take the pair towards 2.0545 (21DMA).
Recommendation: Good buy around 2.0580, with stop loss of 2.0500 and target price of 2.0700
