• GBP/NZD traded in narrow range as investors assessed concerns over the U.S. Federal Reserve's independence.
• U.S. President Donald Trump on Monday sought to dismiss Federal Reserve Governor Lisa Cook over claims of impropriety in mortgage borrowing.
• Last week, Federal Reserve Chair Jerome Powell indicated that the U.S. central bank might consider cutting interest rates at next month’s meeting, citing increasing risks to the labor market.
• Investors now await the U.S. GDP data on Thursday and the Personal Consumption Expenditures (PCE) on Friday.
• Technical are bullish, daily RSI is positive at 66 daily momentum studies 9 and 10 DMAs are trending up.
• Immediate resistance is located at 2.3203(23.6%fib), any close above will push the pair towards 2.3203(Higher BB)
• Support is seen at 2.2950 (38.2%fib) and break below could take the pair towards 2.2757(50%fib).
Recommendation: Good to buy around 2.2950 with stop loss of 2.2850 and target price of 2.3100
