• GBP/NZD eased on Tuesday as the pair gave some ground as investors awaited Bank of England's (BoE) interest rate decision later in the week.
• The spotlight is on the Bank of England's interest rate decision set for Thursday. According to money markets, there's a 59% chance the BoE will cut rates by 25 basis points next week.
•Investors are also eagerly anticipating the monetary policy decisions from the Bank of Japan and the U.S. Federal Reserve on Wednesday.
• Technical highlight upside risks for GBP/NZD, with momentum studies, 5, 10 and 21 DMAs tracking north.
• Immediate resistance is located at 2.1923 (23.6%fib), any close above will push the pair towards 2.2012(Higher BB).
• Strong support is seen at 2.1696 (38.2%fib) and break below could take the pair towards 2.1552 (50%fib).
Recommendation: Good to buy around 2.1720, with stop loss of 2.1600 and target price of 2.1800
