• GBP/NZD steadied on Thursday as hotter than expected U.S. inflation data lifted the pair higher.
• A U.S. Labor Department report showed consumer prices increased more than expected in December as rents maintained their upward trend.
• The pair currently is approaching resistance at 38.2%fib. A break above will unmask 2.0550 level in the short term.
• Technical signals show the pair could gain more ground in the short-term as RSI is at 57,while moving averages are trending higher.
• Immediate resistance is located at 2.0488(38.2%fib), any close above will push the pair towards 2.0562 (Higher BB).
• Immediate support is seen at 2.0415 (50%fib) and break below could take the pair towards 2.0337 (61.8%fib).
Recommendation: Good to buy around 2.0450, with stop loss of 2.0360 and target price of 2.0550
