• GBP/NZD strengthened on Monday but gains were limited as investors awaited key U.K inflation readings due this week .
• Upcoming UK CPI and PMI readings are likely to play pivotal roles in evaluating the GBP's trend.
• At GMT 17:52, the pair was trading up 0.35 percent at 2.0585 recovering from daily low (2.0502)
• Technical signals are bearish as RSI is heading down at 47 , daily momentum studies 5, 9 and 11 DMAs are trending down.
• Immediate resistance is located at 2.0615 (38.2%fib ), any close above will push the pair towards 2.0701 (Feb 9th high).
• Strong support is seen at 2.0507(50%fib) and break below could take the pair towards 2.0382 (61.8%fib).
Recommendation: Good to sell on around 2.0590, with stop loss of 2.0700 and target price of 2.0500
