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• GBP/NZD initially gained on Monday but gave up some ground as investors focused on upcoming US CPI, UK GDP data.
• Investors will be paying close attention to Wednesday's U.S. CPI data. UK GDP data will also be closely watched on Thursday.
• At GMT 20:08, the pair was trading up 0.13 percent at 1.9806 after reaching daily high at 1.9856.
• GBP/NZD remains bullish, only a close back below 1.9772(50% fib), could upset the bullish order.
• Immediate resistance is located at 1.9856 (38.2% fib), any close above will push the pair towards 1.9949(23.6%fib).
• Strong support is seen at 1.9772(50% fib) and break below could take the pair towards 1.9751 (50DMA).
Recommendation: Good to buy around 1.9800, with stop loss of 1.9700 and target price of 1.9880
