• GBP/ NZD gained on Monday as buoyant UK rates outlook lifted the pair.
• The pound is likely to remain buoyant, out-performing growth laggards and keeping pace with New Zealand dollar.
• A close above 1.9557 (Higher BB), should trigger a new bullish phase with potential for 1.9602. A break under 1.9486(38.2%fib) would unmask 1.9400 level in the short term.
• Technical signals are bearish as RSI is at 46, 21, 30 DMAs are trending down.
• Immediate resistance is located at 1.9557 (Higher BB), any close above will push the pair towards 1.9597 (38.2%fib).
• Immediate support is seen at 1.9484 (38.2% fib) and break below could take the pair towards 1.9465 (21DMA).
Recommendation: Good buy around 1.9520 with stop loss of 1.9460 and target price of 1.9600
