• GBP/ NZD steadied around as commodities slump and china concerns weighed on the kiwi dollar
• traders are now focused on a slew of BoE member comments and UK flash PMIs later this week and the UK budget to be announced Oct. 30.
• At GMT 13:36, the pair was trading up 0.10% at 2.1505, rebounding from overnight low.
• Technical signals are strongly bullish as RSI is bullish, 5, 9,11 DMAs are trending up.
• Immediate resistance is located at 2.1551(23.6%fib), any close above will push the pair towards 2.1604(Oct 9th high).
• Immediate support is seen at 2.1459(38.2%fib)and break below could take the pair towards 2.1384(50%fib).
Recommendation: Good buy around 2.1500, with stop loss of 2.1400 and target price of 2.1600
