• GBP/NZD steadied around 2.1800 level on Tuesday as sterling firmed day before the Labour government's first budget. .
• Finance minister Rachel Reeves, along with Prime Minister Keir Starmer, has reiterated the need for tough fiscal measures to help close a hole in British public finances.
• Key for sterling will be estimates from the British Office for Budget Responsibility, which provides the forecasts that support the government's spending and tax plans.
• Technical highlight upside risks for GBP/NZD, with momentum studies, 5, 10 and 21 DMAs tracking north.
• Immediate resistance is located at 2.1812 (23.6%fib), any close above will push the pair towards 2.1892 (Higher BB).
• Immediate support is seen at 2.1672 (38.2%fib) and break below could take the pair towards 2.1550(50%fib).
Recommendation: Good to buyaround 2.1780 with stop loss of 2.1700 and target price of 2.1870
