• GBP/NZD steadied on Monday as above-target UK inflation and expectaions BoE hikes are likely to remain
• GBP/NZD traded in a 2.1266 -2.1358 range on Monday. The pair was trading up 0.02 percent at 2.1326
• Technicals are favouring bullish sentiment as RSI has turned lower and the pair is trading below 5 & 9-DMAs.
• Immediate resistance is located at 2.1461 (23.6%fib), any close above will push the pair towards 2.1478 (Aug )
• Support is seen at 2.1234 (38.2% fib) and break below could take the pair towards 2.11977 (5DMA).
Recommendation: Good to buy around 2.1310 with stop loss of 2.1450 and target price of 2.1380
