FxWirePro : GBP/NZD trades in tight range amid Fed independence concerns

• GBP/NZD   traded in  narrow range as   investors assessed concerns over the U.S. Federal Reserve's independence.

• U.S. President Donald Trump on Monday sought to dismiss Federal Reserve Governor Lisa Cook over claims of impropriety in mortgage borrowing.

• Last week, Federal Reserve Chair Jerome Powell indicated that the U.S. central bank might consider cutting interest rates at next month’s meeting, citing increasing risks to the labor market.

• Investors now await the U.S. GDP data on Thursday and the Personal Consumption Expenditures (PCE) on Friday.

• Technical are bullish, daily RSI is positive  at 66 daily momentum studies  9 and 10 DMAs are trending up.

• Immediate resistance is located at 2.3203(23.6%fib), any close above will push the pair towards 2.3203(Higher BB)

• Support is seen at 2.2950 (38.2%fib) and break below could take the pair towards 2.2757(50%fib).

Recommendation: Good to buy  around 2.2950 with stop loss of 2.2850 and target price of 2.3100