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• GBP/NZD strengthened on Monday as sterling consolidated against Australian dollar ahead of Britain's July 4 election.
• Opinion polls suggest Labour Party leader Keir Starmer is set to replace Conservative Rishi Sunak as prime minister following Thursday's parliamentary elections.
• Pair traded in 2.0725 /2.0845 range and was last trading at 2.0820 in the US afternoon.
• Technical signals are bullish as RSI is at 55, daily momentum studies 5,9 and 10 DMAs are trending up.
• Immediate resistance is located at 2.0859(23.6%fib), any close above will push the pair towards 2.0930(May 6th high).
• Strong support is seen at 2.0765 (38.2%fib ) and break below could take the pair towards 2.0685 ( (50%fib).
Recommendation: Good to buy around 2.0800, with stop loss of 2.0730 and target price of 2.0880
