• GBP/NZD strengthened on Tuesday as the pair was propelled by the pound's robust performance against the declining New Zealand dollar.
• Traders will keep an eye on New Zealand’s Westpac Consumer Survey for the first quarter and the Current Account on Wednesday.
•On Thursday, investors focus will be shifting to New Zealand's Gross Domestic Product (GDP) for Q4, with an anticipated growth of 0.1% quarter-on-quarter (QoQ).
• The pair currently is approaching resistance at 23.6%fib resistence. A break above would unmask 2.1100 level in the short term.
• Technical signals show the pair could gain more ground in the short-term as RSI is at 67,while moving averages are trending higher.
• Immediate resistance is located at 2.1042(23.6%fib), any close above will push the pair towards 2.1121(Higher BB).
• Immediate support is seen at 2.0900 (Daily low) and break below could take the pair towards 2.0856 (5DMA).
Recommendation: Good to buy around 2.1000, with stop loss of 2.0900 and target price of 2.1100
