• GBP/NZD edged higher on Monday but gains were limited in thin trading as focus remained a crucial U.S. jobs print.
• Globally, attention will be centered on Friday's U.S. jobs report, as investors evaluate the potential magnitude of Federal Reserve rate cuts later this year.
•Economists surveyed by Reuters expect the addition of 165,000 U.S. jobsin August, up from an increase of 114,000 in the previous month, and the unemployment rate ticking lower to 4.2%.
• Technicals are favouring bearish sentiment as RSI is at 43and the pair is trading below 5,10 & 11-DMAs.
• Immediate resistance is located at 2.1148(Daily high), any close above will push the pair towards 2.1285 (38.2% fib).
• Strong support is seen at 2.1011(23.6% fib)and break below could take the pair towards 2.0929 (23.6% fib).
Recommendation: Be on sidelines
