• GBP/ NZD gained on Monday as global growth and China lockdown concerns weighed on commodity related New Zealand dollar.
• Bulls have tightened their grip after registering a close above the 38.2%fib,scope grows for bigger gains towards 1.9450 level.
• Technical signals are strongly bullish as RSI is bullish at 58, 5, 9,11 DMAs are trending up.
• Immediate resistance is located at 1.9373(38.2%fib), any close above will push the pair towards 1.9409 (Higher BB).
• Immediate support is seen at 1.9231 (38.2%fib) and break below could take the pair towards 1.9120 (9DMA).
Recommendation: Good buy around 1.9335, with stop loss of 1.9240 and target price of 1.9450
