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FxWirePro:GBP/NZD positions for another climb, eyes 2.0450 level


• GBP/ NZD steadied   on Friday as better-than-expected economic data supported pound 

• This week has seen the release of many economic data points that indicate the British economy was more resilient in December than first anticipated. 

• A survey indicated Britain's construction sector  appeared to have weathered the brunt of the downturn brought on by the sharp increase in interest rates. 

• Technical are bullish as daily RSI is at 52, daily momentum studies  5 and 9 DMAs are trending up. 

• Immediate resistance is located at 2.0415 ( 38.2% fib), any close above will push the pair towards 2.0521 (23.6% fib).

•  Immediate support is seen at 2.0322 (50% fib) and break below could take the pair towards 2.0245(61.8% fib).

 Recommendation: Good to buy around 2.0360, with stop loss of 2.0200 and target price of 2.0450

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