FxWirePro: GBP/NZD faces strong support at 100 day MA, good to buy at dips
Major Support- 2.1320 (100 day MA) The pair has made a low of 2.3150 and recovered from that level. It is currently trading at 2.15620. Market awaits BOE inflation report hearings for further direction. At these hearings…
The pair has made a low of 2.3150 and recovered from that level. It is currently trading at 2.15620.
Market awaits BOE inflation report hearings for further direction. At these hearings the BOE Governor and other MPC testify on economic outlook and inflation before Parliament treasury committee.
Technically any break below major support will drag the pair down till 2.1189 (21 day MA)/2.1159 (55 day EMA).
On the higher side resistance is around 2.15870 (61.8% retracement of 2.17532 and 2.1357) and break above targets 2.1659/2.1750.
It is good to buy at dips around 2.1470-2.1480 with SL around 2.1320 for the TP of 2.1659/2.1750
