• GBP/NZD declined sharply on Friday as investors grappled with uncertainty around the outlook for interest rates and political turmoil in Europe.
• Investor focus is now on the domestic inflation report and the Bank of England's (BoE) monetary policy meeting - the last before the July 4 election due next week.
• The pair is approaching to test 23.6%fib support. A break under would unmask 2.0600 level in the short term.
• Immediate resistance is located at 2.0739 (38.2%fib), any close above will push the pair towards 2.0823(50%fib).
• Immediate support is seen at2.0634 (23.6%fib ), break below could take the pair towards 2.0613 (Lower BB).
Recommendation: Good to sell around 2.0660 with stop loss of 2.0770 and target price of 2.0600
