• GBP/NZD steadied on Monday as traders looked past last week’s retail sales as strong UK inflation report supported pound.
• This week the UK's economic schedule will include the release of S&P Global Flash PMIs on Wednesday, along with the unveiling of the UK's Business Confidence indicator.
• The pair currently is approaching resistance at 23.6%fib . A break above would unmask 2.1000 level in the short term.
• Technical signals show the pair could gain more ground in the short-term as RSI is at 75,while moving averages are trending higher.
• Immediate resistance is located at 2.0905(23.6%fib), any close above will push the pair towards 2.1000(Higher BB).
• Immediate support is seen at 2.0777 (38.2%fib) and break below could take the pair towards 2.0663 (50%fib).
Recommendation: Good to buy around 2.0900 with stop loss of 2.0750 and target price of 2.0980
