• GBP/NZD steadied on Monday as investors braced for Federal Reserve and Bank of England policy meetings this week.
• The Federal Open Market Committee (FOMC) meeting ends on Wednesday, while BoE policymakers will gather on Thursday.
• The pair currently is approaching resistance at 1.9444 (38.2%fib ). A break above 1.9444 would unmask 1.9600 level in the short term.
• Technicals are favouring bullish sentiment as RSI is at 60 and the pair is trading above 11 & 21-DMAs.
• Immediate resistance is located at 1.9444 (38.2%fib ), any close above will push the pair towards 1.9604 (Higher BB).
• Strong support is seen at 1.9331(5DMA) and break below could take the pair towards 1.9251(50%fib).
Recommendation: Good to buy around 1.9400, with stop loss of 1.9250 and target price of 1.9520
