• GBP/NZD initially gained on Monday but gave up ground as investors were cautious ahead of a number of central bank meetings this week including the Bank of England's.
• At GMT 17:06, the pair was trading down 0.02 percent at 1.9072.
• Investors will scrutinize the outcome of upcoming Fed, ECB and BoE meetings.
• Technical signals are bearish as RSI is heading down at 47 , daily momentum studies 5, 9 and 11 DMAs are trending down.
• Immediate resistance is located at 1.9112 (9DMA ), any close above will push the pair towards 1.9214 (38.2%fib).
• Strong support is seen at 1.9048 (Daily low) and break below could take the pair towards 1.9003 (23.6%fib).
Recommendation: Good to sell on around 1.9080, with stop loss of 1.9190 and target price of 1.9000
