• GBP/ NZD rose on Monday as traders are focused on British growth data and remarks from Bank of England policy makers.
• British economic growth numbers will be released on Friday and are expected to show the economy likely avoided a second straight quarter of contraction.
• Today’s rise has passed through the 38.2% fibonacci retrace point at 1.9070 and now eyes at 19200 level.
• Immediate resistance is located at 1.9137(50DMA), any close above will push the pair towards 1.9180(Daily high).
• Support is seen at 1.9070(38.2%fib) and break below could take the pair towards 1.9000 (Psychological level).
Recommendation: Good to buy around 1. 9100, with stop loss of 1. 9020 and target price of 1. 9180
