Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro :GBP/NZD hovers around 2.0850 as market waits for fresh catalyst

• GBP/NZD traded in quiet range   on Friday  as investors focus  turned to the Bank of England's meeting next week.

•BoE rate setters meeting on Thursday, where their updated macro economic projections will   be released.

• A close above   resistance at 38.2%fib will give further momentum to bulls, opening the way for a run towards 2.0950 level.

• Technical signals are bullish as RSI is at 56  ,daily momentum studies 9, 11 and 14 DMAs are trending  up. 

• Immediate resistance is located at 2.0898(38.2%fib),any close above will push the pair towards 2.0605 (38.2%fib).

• Immediate support is seen at 2.0778 (50 % fib) and break below could take the pair towards 2.0704 (14DMA).

Recommendation: Good to buy around  2.0840, with stop loss of 2.0750 and target price of 2.0950

  • Market Data
Close

Welcome to EconoTimes

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