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• GBP/NZD rose past 2.0800 level on Monday as GBP gained traction ahead of this week's news on Britain's budget.
• British finance minister Jeremy Hunt will announce his budget on Wednesday.Over the weekend Hunt played down talk of large tax cuts.
• GBP/NZD remains bullish, only a break and daily close below 50%fib support at 2.0618 will shift bias to the downside.
• Technicals are favouring bullish sentiment as RSI is at 61 and the pair is trading above 11 & 21-DMAs.
• Immediate resistance is located at 2.0837(Daily high ), any close above will push the pair towards 2.0909 (23.6%fib).
• Strong support is seen at 2.0743(38.2%fib) and break below could take the pair towards 2.0618(50%fib).
Recommendation: Good to buy around 2.0820, with stop loss of 2.0700 and target price of 2.0880
