• GBP/NZD strengthened on Monday as the pair attracted buyers ahead of inflation readings from UK .
• UK's October inflation report on Wednesday is expected to ease to 4.8% from 6.7% in September, according to a poll.
• A close above 38.2% fib, should trigger a new bullish phase with potential for 2.0950.
• From a technical viewpoint, the moving averages are pointing downwards, while the RSI is strongly bearish at 57.
• Immediate resistance is located at 2.0864 (38.2% fib), any close above will push the pair towards 2.0920 (Oct 26th high).
• Immediate support is seen at 2.0764 (5DMA) and break below could take the pair towards 2.0732 (50% fib).
Recommendation: Good to buy around 2.0850 with stop loss of 2.0760 and target price of 2.0910
