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FxWirePro:GBP/NZD steadies above 1.8000, retains bid tone

• GBP/ NZD initially dipped on Monday but recovered most of the ground     as investors looked ahead to BOE's next move on interest rate.

• The Bank of England is   expected to lift borrowing costs by a bigger 50 basis points to 1.75% on Thursday as it battles soaring inflation.

• Pair traded in   1.9295/1.9387 range and was last trading at 1.9337. 

• Technical signals are bullish as RSI is at 51, daily momentum studies  5,9 and 10 DMAs are trending up. 

• Immediate resistance is located at 1.9382 (Daily high), any close above will push the pair towards 1.9410(23.6%fib).

•  Support is seen at 1.9324 (5DMA) and break below could take the pair towards 1.9293 (38.2%fib).

• Recommendation: Good to buy around 1. 9330, with stop loss of 1. 9250 and target price of 1. 9410
 

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