• GBP /NZD edged higher on Monday as focus shifted UK inflation data and central bank meeting.
• Inflation figures released on Wednesday will be crucial ahead of the BoE's policy announcement.
• The BoE is widely expected to maintain interest rates this week following a 25-basis-point cut last month.
• Technical signals show the pair could gain more ground in the short-term as RSI is at 55 bullish, daily momentum studies 5, 9 and 11 DMAs are trending up.
• Immediate resistance is located at 2.1364(38.2% fib), any close above will push the pair towards 2.1446 (Higher BB).
• Immediate support is seen at 2.1192 (50%fib) and break below could take the pair towards 2.1100 (Aug 7th low).
Recommendation: Good to buy on dips around 2.1300, with stop loss of 2.1200 and target price of 2.1400
