• GBP/ NZD initially dipped on Monday but recovered most of the ground as investors looked ahead to BOE's next move on interest rate.
• The Bank of England is expected to lift borrowing costs by a bigger 50 basis points to 1.75% on Thursday as it battles soaring inflation.
• Pair traded in 1.9295/1.9387 range and was last trading at 1.9337.
• Technical signals are bullish as RSI is at 51, daily momentum studies 5,9 and 10 DMAs are trending up.
• Immediate resistance is located at 1.9382 (Daily high), any close above will push the pair towards 1.9410(23.6%fib).
• Support is seen at 1.9324 (5DMA) and break below could take the pair towards 1.9293 (38.2%fib).
• Recommendation: Good to buy around 1. 9330, with stop loss of 1. 9250 and target price of 1. 9410
