• GBP/NZD eased on Monday as market awaited UK consumer inflation data due later in the week.
• Britain’s July consumer inflation data, scheduled for release on Wednesday, is expected to remain a focal point for market participants.
• The headline CPI is projected to show whether price pressures are moderating after recent declines, while core inflation is closely watched for signals of underlying trends.
•A softer-than-expected reading could reinforce expectations that the Bank of England (BoE) may consider slowing or reversing its tightening path.
• Technical are bullish, daily RSI is positive at 61, daily momentum studies 9 and 10 DMAs are trending up.
• Immediate resistance is located at 2.2919 (Aug 15th high), any close above will push the pair towards 2.2998(38.2%fib)
• Support is seen at 2.2768 (50%fib) and break below could take the pair towards 2.2690 (Aug 14th low).
Recommendation: Good to buy around 2.2770 with stop loss of 2.2700 and target price of 2.2870
