• GBP/ NZD strengthened on Monday as reduction in COVID-19 cases in Britain supported sterling.
• The pound has held up against kiwi dollar, supported by Britain’s high vaccination rate at a time when the Delta variant has caused cases to surge worldwide.
• Technical signals show the pair could gain more ground in the short-term as RSI is at 52,while moving averages and MACD are trending higher.
• Immediate resistance is located at 1.9769 ( 38.2%fib), any close above will push the pair towards 1.9841(23.6%fib).
• Immediate support is seen at 1.9708 (50%fib) and break below could take the pair towards 1.9650 (61.8%fib).
Recommendation: Good to buy around 1.9750, with stop loss of 1.9680 and target price of 1.9810
