• GBP/NZD dipped on Thursday as GBP outlook dimmed ahead of Britain's economic figures.
• The upcoming release of UK gross domestic product (GDP) data on Friday will offer valuable insights into the current state of UK economy.
• It will also provide clues regarding the potential duration for which the Bank of England (BoE) can maintain its interest rates at 5.25%.
• Technicals are favouring bearish sentiment as RSI is at 49 and the pair is trading below 11 & 21-EMAs.
• Immediate resistance is located at 2.0985 (9EMA), any close above will push the pair towards 2.1015(38.2% fib )
• Support is seen at 2.0881 ( 50% fib ) and break below could take the pair towards 2.0758 (61.8% fib).
Recommendation: Good to sell around 2.0960, with stop loss of 2.1050 and target price of 2.0900.
