• GBP/ NZD strengthened initially but gave up some ground as fresh political headwinds for embattled British Prime Minister Boris Johnson unnerved investors.
• British Prime Minister Boris Johnson survived a no-confidence vote among his Conservative Party's lawmakers on Monday, but the thin margin of victory spurred talk of a move to replace him, hitting sterling.
• The pair currently is approaching resistance at 38.2%fib. A break above will unmask 1.9550 level in the short term.
• Immediate resistance is located at 1.9450(38.2%fib), any close above will push the pair towards 1.9551(24th May high).
• Support is seen at 1.9309(11DMA) and break below could take the pair towards 1.9268 (50%fib).
Recommendation: Good to buy around 1. 9380, with stop loss of 1. 9270 and target price of 1. 9500
