• GBP/NZD strengthened on Monday as upbeat risk sentiment boosted sterling.
• The pair reaches 1.9256 after extending north from 1.9200 (Daily low). 1.9256 is the highest level since July 21st.
• GBP/NZD bulls have to contend with strong resistance at 1.9266. If GBP/NZD longs overcome that level, tests of 1.9314 (14 DMA) resistance is likely.
• Immediate resistance is located at 1.9266 (38.2%fib), any close above will push the pair towards 1.9314 (14DMA).
• Immediate support is seen at 1.9142 (Lower BB) and break below could take the pair towards 1.9056(23.6%fib).
Recommendation: Good to buy on dips around 1.9220, with stop loss of 1.9150 and target price of 1.9350.
