• GBP/NZD edged higher on Monday but gains were limited as holiday markets limited outright direction.
• The pair hit daily high at 2.0417, but retreated back , it was last up 0.10 % at 2.0375.
• Technical signals are bullish as RSI is at 63, daily momentum studies 5,9,21 DMA are trending north.
• Immediate resistance is located at 2.0426 (23.6%fib), any close above will push the pair towards 2.0522(Higher BB).
• Strong support is seen at 2.0349(5DMA) and break below could take the pair towards 2.0190 (38.2%fib).
Recommendation: Good to buy around 2.0360 with stop loss of 2.0230 and target price of 2.0470
