• GBP/NZD strengthened on Monday as British pound gathered some momentum as investors awaited more data and comments from BoE officials on the state of the economy.
• Investors are poised to shift their attention towards the labor market data scheduled for release on Tuesday, as well as comments expected later in the week from Huw Pill for clues on the timing of the policy easing.
• The pair hit daily high at 2.0818 and was last trading at 2.0868 at (GMT 19:34). Sustained break at 23.6%fib resistance would open the door to 2.1000 level
• Immediate resistance is located at 2.0878 (Daily high ), any close above will push the pair towards 2.0926 (23.6%fib).
• Strong support is seen at 2.0824(38.2%fib) and break below could take the pair towards 2.0740(50%fib)
Recommendation: Good to buy around 2.0860, with stop loss of 2.0760 and target price of 2.0940
