• GBP/NZD dipped on Monday as kiwi dollar remained firm against pound supported by the RBNZ’s hawkish outlook.
• The Reserve Bank of New Zealand cut rates last week and flagged that the easing cycle was likely over. Helped by some strong economic data , markets see rates going higher and price in a hike by December 2026..
• On the data front, Britain's services sector declined at the fastest pace in three years in the three months to November .
• Separately, the manufacturing PMI increased for the first time last month since September 2024, a survey showed.
• Immediate resistance is located at 2.3173(Nov 28th high), any close above will push the pair towards 2.3261 (SMA 20).
• Immediate support is seen at 2.3061(50%fib) and break below could take the pair towards 2.2955 (Lower BB).
Recommendation: Good to sell around 2.3080 with stop loss of 2.3150 and target price of 2.3020
