• GBP/ NZD strengthened On Monday as sterling gained traction after the agreement between the U.S. and Mexico to postpones tariffs for a month.
• Mexican President Claudia Sheinbaum and President Trump agreed to delay implementing tariffs, easing concerns about a North American trade war.
• On the economic front, British factories reported another tough month in January as output, new orders and employment all fell, PMI data showed.
• Technical signals are bullish as RSI is at 61 bullish, daily momentum studies 5, 9 and 11 DMAs are trending up.
• Immediate resistance is located at 2.223 ( Higher BB), any close above will push the pair towards 2.2282 (Higher BB).
• Immediate support is seen at 2.0231(38.2% fib) and break below could take the pair towards 2.1823(50% fib).
Recommendation: Good to buy around 2.0200 , with stop loss of 2.0130 and target price of 2.0340
