• GBP/NZD dipped on Monday as investor focus shifted to this week’s UK inflation data.
• U.K. inflation is expected to have risen to 4%, with markets watching closely for signs of persistent price pressures that could influence the Bank of England’s monetary policy outlook.
• U.K. inflation is expected to have risen to 4%, with markets watching closely for signs of persistent price pressures.
• Pickup in U.K. inflation is likely to strengthen the case for the Bank of England to delay any further interest rate cuts until next year.
• Immediate resistance is located at 2.3512(23.6%fib), any close above will push the pair towards 2.3568(Higher BB).
• Immediate support is seen at 2.3249 (38.2%fib) and break below could take the pair towards 2.3219(SMA20).
Recommendation: Good to sell around 2.3400, with stop loss of 2.3480, and target price of 2.3320
