• GBP/NZD initialled dipped on Tuesday after data showed UK basic pay growth slowed for first time in a year but loses were limited after in-line with expectation U.S. inflation data
• Data showed growth in pay in Britain lost pace in the three months to January.
• At GMT 16:57, The pound was 0.17% lower against the kiwi dollar at 1.9541, off the previous day's top of 1.9643
• Technical signals are bullish as RSI is rising at 59, daily momentum studies 5, 9 and 11 DMAs are trending up.
• Immediate resistance is located at 1.9638(23.6%fib), any close above will push the pair towards 1.9706 (Higher BB )
• Strong support is seen at 1.9533 (5DMA) and break below could take the pair towards 1.9486 (38.2%fib).
Recommendation: Good buy around 1.9510, with stop loss of 1.9390 and target price of 1.9600
