• GBP/NZD strengthened on Monday as kiwi dollar weakened after a COVID-19 lockdown was extended in its largest city Auckland.
• New Zealand’s Prime Minister Jacinda Ardern announced on Monday that Auckland would remain in lockdown until midnight on Sept. 21 to beat the spread of the Delta variant of the coronavirus.
• A daily close above the 1.9473 ( 38.2%fib) will further improve the technical outlook, and open the possibility of a rally towards 1.9550.
• Immediate resistance is located at 1.9473 ( 38.2%fib), any close above will push the pair towards 1.9550 (23.6%fib).
• Immediate support is seen at 1.9403 (50%fib) and break below could take the pair towards 1.9336 (61.8%fib).
Recommendation: Good to buy around 1.9430, with stop loss of 1.9340 and target price of 1.9510
