• GBP/NZD gained on Monday as GBP benefited from strongly weaker New Zealand dollar.
• GBP/NZD remains bullish, only a break and daily close below 1.9709(38.2%fib) will shift bias to the downside.
• Technical are favouring bullish sentiment as RSI is strongly bullish at 69 and the pair is trading above moving averages.
• Immediate resistance is located at 1.9862 (23.6%fib ), any close above will push the pair towards 1.9902 (Higher BB).
• Strong support is seen at 1.9760(5DMA) and break below could take the pair towards 1.9709(38.2%fib).
Recommendation: Good to buy around 1.9840, with stop loss of 1.9800 and target price of 1.9910
