•GBP/ NZD strengthened on Monday as risk appetite improved on hopes for results from Russia-Ukraine talks.
•Remarks from Ukrainian and Russian officials that progress in diplomatic talks could be established in the coming days helped the pound's recovery.
• Today’s rise has passed through the 38.2% fibonacci retrace point at 1.9212 and now eyes the `11 DMA at 1.9342.
• Immediate resistance is located at 1.9363 (50%fib), any close above will push the pair towards 1.9336 (61.8%fib).
• Support is seen at 1.9217(38.2%fib) and break below could take the pair towards 1.9038 (23.6%fib).
•Recommendation: Good to buy around 1. 9250, with stop loss of 1. 9150 and target price of 1. 9330
