• GBP/ NZD initially dipped but recovered some ground as market attention tuned to UK GDP data
• UK GDP and output data are in focus on Friday, followed by payrolls on Tuesday and CPI on Wednesday, all leading up to the Bank of England's (BoE) MPC meeting.
• The UK October GDP data is scheduled for release on Friday at 07:00 GMT. The market is expecting a 0.1% growth in the UK economy for the month of October.
• Technical signals are strongly bullish as RSI is bullish, 5, 9,11 SMAs are trending up.
• Immediate resistance is located at 2.2088(23.6%fib), any close above will push the pair towards 2.2144 (Higher BB).
• Immediate support is seen at 2.1936 (38.2%fib)and break below could take the pair towards 2.1801 (50%fib).
Recommendation: Good buy around 2.1950, with stop loss of 2.1860 and target price of 2.2100
