Forex traders await UK labor market data this morning. GDP and PMI data released over the past few trading sessions showed a weaker-than-expected economy, but the British Pound soared together with PM Johnson’s electoral victory. Will today’s economic data keep the rally in the GBPNZD alive or are bears waking up? Subscribe to the PaxForex Daily Fundamental Analysis and grow your balance trade-by-trade.

Fourth-quarter consumer confidence in New Zealand rebounded and the ANZ Activity Outlook outlook expanded in December. This pushed the GBPNZD into a key horizontal support area. UK data has been weak but overshadowed by last week’s election victory that gave PM Johnson an overwhelming majority. How will price action react after the release of UK data later this morning? Today’s fundamental analysis will take a look at price action in both directions.