• GBP/NZD dipped on Monday as hawkish BoE vibe faded amid UK energy crises and Brexit angst.
• Though the pair has fallen away from its European session high, GBP/NZD has remained in positive territory , rise above 1.9643 (38.2% fib)may shift momentum to bulls, putting focus on 23.6%fib.
• Technicals are favouring bullish sentiment as RSI is at 54 and the pair is trading below 11 & 21-DMAs.
• Immediate resistance is located at 1.9643 (38.2% fib), any close above will push the pair towards 1.9733 (23.6%fib)
• Support is seen at 1.9580 (50%fib ) and break below could take the pair towards 1.9538 (14DMA).
Recommendation: Good to buy around 1.9580, with stop loss of 1.9500 and target price of 1.9650.
