• GBP/NZD strengthened on Monday but gains were limited as investors focused data releases and central bank meetings, notably the Bank of England's (BoE) meeting.
• The BoE's last policy meeting of 2023 is scheduled for this Thursday. The current Bank Rate, which is 5.25%, a 15-year high, is largely expected to remain unchanged by market participants.
• GBP/NZD remains vulnerable, only a break and daily close above 21DMA will shift bias to the upside.
• Immediate resistance is located at 2.0575(38.2% fib), any close above will push the pair towards 2.0635 (21DMA).
• Strong support is seen at 2.0463 (Daily low) and break below could take the pair towards 2.0400 (23.6%fib).
Recommendation: Good to sell on around 2.0530 with stop loss of 2.0650 and target price of 2.0430
