• GBP/ NZD initially dipped on Monday but recovered as traders remain wary of big moves before U.S. and UK reports in the next two day .
• Investors will scan inflation prints from the UK and the U.S. to make bets on the pace of further interest rate hikes.
• The pair hit daily low at 1.9000, it was last down 0.16% at 1.9075 ( GMT 18:09).
• Technical signals are bearish as RSI is trending at 49, 5, 9,11 DMAs are trending down.
• Immediate resistance is located at 1.9094 (21DMA), any close above will push the pair towards 1.9125 (38.2%fib).
• Immediate support is seen at 1.9008 (23.6%fib) and break below could take the pair towards 1.8972 (Feb 7th low).
Recommendation: Good sell around 1.9090, with stop loss of 1.9170 and target price of 1.9010
