• GBP/ NZD initially gained on Monday but gave up ground as risk aversion weighed on risk-sensitive pound.
• The pair traded in the range of 2.0498 /2.0382 and now eyes the 23.6%fib at 2.0522
• UK jobs and wages data is due on Tuesday, and inflation data for January is due on Wednesday, with retail sales data expected on Friday.
• Technical are bullish, daily RSI is positive at 56, daily momentum studies 11and 14 DMAs are trending up.
• Immediate resistance is located at 2.0522 (23.6%fib), any close above will push the pair towards 2.0570 (Higher BB).
• Support is seen at 2.0522 (38.2%fib) and break below could take the pair towards 2.0266 (50%fib).
Recommendation: Good to buy around 2. 0440, with stop loss of 2. 0320 and target price of 2. 0520
