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FxWirePro:GBP/NZD runs out of steam but maintains bullish outlook

• GBP/ NZD initially gained on Monday but gave up ground on diminished global growth view after weak china data.

• The pair attempted to breach resistance at 1.9743 ( 50% fib) and dipped towards 1.9691 level . A decisive break closure above 1.9743 could generate further gains.

•Tuesday UK employment data is in focus, employment rate seen steadying at 4.8%.

• Immediate resistance is located at 1.9743 ( 50% fib), any close above will push the pair towards 1.9763 (Higher BB).

• Immediate support is seen at 1.9680 (50% fib) and break below could take the pair towards 1.9622 (61.8% fib).

• Recommendation: Good to buy around 1.9670, with stop loss of 1.9600 and target price of 1.9790
 

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