• GBP/NZD dipped on Tuesday as investors assessed economic data for more clarity on the Bank of England's monetary easing plans.
• Investors awaited readings on UK business activity as well as consumer confidence later this week to gauge how the British economy is faring and the BoE's interest rate trajectory.
• The pound erased Monday’s gains against the kiwi dollar , the pair was last down at 0.19% at 2.0861 .
• Technicals are favouring bullish sentiment as RSI is at 49 and the pair is trading above 5,10 & 11-DMAs.
• Immediate resistance is located at 2.0939(23.6% fib), any close above will push the pair towards 2.1000 (Higher BB)
• Strong support is seen at 2.0833 (Daily low)and break below could take the pair towards 2.0733 (38.2%fib).
Recommendation: Good to buy around 2.0840 with stop loss of 2.0720 and target price of 2.0960
