•GBP/NZD gained on Monday as GBP benefited from strongly weaker New Zealand dollar, but gains were limited as investors squared positions ahead of key central bank meetings this week.
•GBP/NZD remains bullish, only a break and daily close above 21DMA at 1.9390 will shift bias to the downside.
•Technicals are favouring bullish sentiment as RSI is at 60 and the pair is trading above 11 & 21-DMAs.
• Immediate resistance is located at 1.9618 (23.6%fib ), any close above will push the pair towards 1.9696 (Higher BB).
•Strong support is seen at 1.9475(38.2%fib) and break below could take the pair towards 1.9390(21DMA).
Recommendation: Good to buy around 1.9560, with stop loss of 1.9450 and target price of 1.9660
