• GBP/ NZD rose on Monday as the improved outlook for banks and upbeat UK CBI data reinforced the recent sterling bullish strength .
• British retailers reported their first positive sales expectations in seven months, according to a survey published by the Confederation of British Industry on Monday.
• GBP/ NZD is now on course to register a close below the 1.9862(23.6%fib) level, chart points to bigger gains towards 1.9900.
• Immediate resistance is located at 1.9862(23.6%fib), any close above will push the pair towards 1.9904(Higher BB).
• Support is seen at 1.9728(23.6%fib) and break below could take the pair towards 1.9682(Daily Low).
Recommendation: Good to buy around 1.9820, with stop loss of 1. 9720 and target price of 1. 9900
