• GBP/ NZD strengthened on Monday as investors assessed last week’s quarter percentage point rate hike from the Bank of England.
•Investors now await second-quarter UK GDP data later in the week, along with inflation readings from the U.S. and China.
• At GMT 17:46, the pair was trading up 0.25 percent at 2.0941,highest level since Aug 2nd .
• From a technical viewpoint, the moving averages are pointing upwards, while the RSI is strongly bullish at 59.
• Immediate resistance is located at 2.0941 (23.6%fib), any close above will push the pair towards 2.126(Higher BB).
• Strong support is seen at 2.0884 (5DMA) and break below could take the pair towards 2.0786 (50%fib)
Recommendation: Good to buy around 2.0930 with stop loss of 2.0820 and target price of 2.0100
