• GBP/NZD initially dipped on Friday but held in tight range as investors digested weaker-than-expected U.S. job data.
• The Labor Department reported that U.S. employers added 187,000 jobs in July. Data for June additions was revised lower to 185,000 jobs, from 209,000 reported previously.
• GBP/NZD remains bullish, only a break and daily close below 50%fib at 2.0568 will shift bias to the downside.
• Technicals are favouring bullish sentiment as RSI is at 60 and the pair is trading above 11 & 21-DMAs.
• Immediate resistance is located at 2.0927 (23.6%fib ), any close above will push the pair towards 2.1009 (Higher BB).
• Strong support is seen at 2.0831(5DMA) and break below could take the pair towards 2.0734(38.2%fib).
Recommendation: Good to buy around 2.0880, with stop loss of 2.0800 and target price of 2.0950
