FxWirePro: GBP/NZD runs out of steam but maintains bullish outlook

• GBP/NZD eased  on Monday   as investors geared up for a slew of central bank decisions this week including from the Bank of England..

• Investors will closely monitor any shifts in the views of MPC members, as some have expressed greater concern over the risk of persistent inflation than other.

•In February, seven MPC members backed a quarter-point cut while two opted for a bigger half-point reduction.

• The MPC will review Rachel Reeves' March 26 measures in May, as weaker growth and rising borrowing costs threaten fiscal rules.

• Immediate resistance is located at 2.2492(38.2%fib), any close above will push the pair towards 2.2752(23.6%fib).

• Immediate support is seen at 2.2283 (50%fib) and break below could take the pair towards 2.2080(61.8%fib).

Recommendation: Good to buy around 2.2200, with stop loss of 2.1900, and target price of 2.2350