• GBP/NZD steadied around 2.1055 on Monday as GBP benefited from upbeat UK CBI data.
• The Confederation of British Industry's (CBI) monthly retail sales balance, indicating sales over the year up to March, increased to +2 from -7 in February.
• GBP/NZD remains bullish, only a break and daily close below 2.0902 (38.2%fib) will shift bias to the downside.
• Technicals are favouring bullish sentiment as RSI is at 65 and the pair is trading above 11 & 21-DMAs.
• Immediate resistance is located at 2.1087 (23.6%fib ), any close above will push the pair towards 2.1154 (Higher BB).
• Strong support is seen at 2.0987(Daily low) and break below could take the pair towards 2.0902 (38.2%fib).
Recommendation: Good to buy around 2.1050 , with stop loss of 2.0900 and target price of 2.1130
