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FxWirePro: GBP/NZD changes short term trend from neutral to bearish

• 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

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