Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: GBP/NZD dips, set to stay on back foot

• GBP/NZD dipped on Tuesday as  as traders positioned for  an interest rate cut from the U.S. Federal Reserve and UK October GDP data  .

• Investors expect the Federal Reserve to deliver a 25-bp rate cut when its policy meeting concludes on Wednesday, but the focus will be on any signals about the path ahead.

• The UK economy has struggled for momentum in 2025, with GDP growth slowing from 0.7% in Q1 to 0.3% in Q2 and just 0.1% in Q3.

• After shrinking 0.1% in September, the economy is expected to register zero growth in October, an improvement that offers little real optimism.

• Immediate resistance is located at 2.3066(50%fib), any close above will push the pair towards 2.3176 (SMA 20).

•  Immediate support is seen at 2.2924(Lower BB) and break below could take the pair towards 2.2864 (Lower BB).

 Recommendation: Good to sell around 2.3030 with stop loss of 2.3100 and target price of 2.2960
 

  • Market Data
Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.