• GBP/NZD declined on Monday as GBP was heavily weighed down by Friday's dovish comments from BoE Deputy Governor.
• Ramsden's confidence that UK inflation risks are ebbing along with BoE Governor 's recent comments that British inflation is slowing largely as expected have led UK rate traders to pull forward perceived rate cut risks.
• Attention is focused on upcoming speeches by BoE’s Jonathan Haskel and Huw Pill. Investors will be keenly observing for any indications towards rate cut hint.
• GBP/NZD focus is on 2.0841(23.6%fib) support, a break below will accelerate losses towards 2.0800 level.
• Immediate resistance is located at 2.0938(38.2% fib), any close above will push the pair towards 2.1034 (50% fib).
• Strong support is seen at 2.0841(23.6%fib) and break below could take the pair towards 2.0735 (14th March low).
Recommendation: Good to sell on around 2.0900 , with stop loss of 2.1050 and target price of 2.0810
