Thursday, October 15, 2026

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FxWirePro: GBP/NZD extends consolidation near new 11-month lows at 2.0417

GBP/NZD has been trading a falling wedge formation and has hit fresh 11-month lows at 2.0417 on Monday's trade. Uncertainty around the Sterling in the run-up to the EU referendum likely to keep the pair depressed. While …

By FxWire Pro
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FxWirePro: GBP/NZD extends consolidation near new 11-month lows at 2.0417
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  • GBP/NZD has been trading a falling wedge formation and has hit fresh 11-month lows at 2.0417 on Monday's trade.
     
  • Uncertainty around the Sterling in the run-up to the EU referendum likely to keep the pair depressed.
     
  • While upbeat data which has pushed back RBNZ rate cuts bets supports NZD and hence downside in the pair.
     
  • Downside in the pair is also confirmed on the charts. Major moving averages biased lower and weakness seen in RSI at 34 levels.
     
  • The pair now sees resistance at 2.0520 (5-DMA), ahead of 2.0605 (10-DMA) and 2.0800 (Wedge top). 
     
  • On the other side, supports are seen at 2.0248 (May 7th 2015 low), 2.0071 (Apr 30th 2015 lows) and then 2.0050 (May 6th 2015 lows).
     

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Major Pair Currency Score: AUDUSD Bearish

EURUSD - Levels to watch - 1.100 GBPUSD Levels to watch - 1.3180 USDCHF Levels to watch - 0.8400 USDCAD - Levels to watch - 1.4300 AUDUSD - Levels to watch - 0.7000 NZDUSD - Levels to watch - 0.5560

By FxWirePro Team