• GBP/ NZD edged higher on Monday as expectation BoE is more likely to deliver more hike boosted sterling
• Money markets show traders believe the Bank of England rise rates by quarter-point when the BoE meets on Sept. 21.
• At GMT 17:15, the pair was trading 0.45% higher at 2.1265, highest level since Aug 31st.
• Technicals highlight upside risk as 14-day momentum confirms price pick-up
• Immediate resistance is located at 2.1270(21DMA), any close above will push the pair towards 2.1321 (23.6%fib).
• Immediate support is seen at 2.1140 (38.2%fib) and break below could take the pair towards 2.1001 (50%fib).
Recommendation: Good to buy around 2.1200, with stop loss of 2.1100 and target price of 2.1380
