FxWirePro: GBP/NZD hits two-week high, scope for bigger gains

•  GBP/NZD rose  2.1900 level on Monday as the pair attracted bids as investors focus shifted    to economic data and central bank policy meetings later this week.

• In a busy week for central bank meetings, the Federal Reserve's interest rate decision on Wednesday will be crucial, with the U.S. central bank expected to keep rates steady

•Markets will focus on December's U.S. personal consumption expenditures data, due Friday, as it’s crucial for assessing the inflation outlook.

• A daily close above  38.2%fib will further improve the technical outlook, and open the possibility of a rally towards 2.2200 level.

• Immediate resistance is located at 2.084(38.2%fib), any close above will push the pair towards 2.2218(Jan 06th high).

• Immediate support is seen at 2.1863 (50%fib) and break below could take the pair towards 2.1644(61.8%fib).

Recommendation: Good to buy around  2.1900 with stop loss of 2.1820 and target price of 2.1980