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FxWirePro : GBP/NZD tight ranges prevail as market waits for fresh catalyst

• GBP/NZD dipped   on Thursday as the pair failed find strong direction  in quiet trading session due to a U.S. holiday.

• Trading volume was thin across markets as U.S. stocks and bonds markets were shut due to the Thanksgiving holiday.

• The pound   erased some of Wednesday’s gains against the kiwi dollar , the pair was trading down  at 0.04% at  2.1535  .

• Immediate resistance is located at 2.1571 (Nov 27th high), any close above will push the pair towards 2.1612 (23.6% fib)

• Strong support is seen at 2.1500 (38.2% fib)and break below could take the pair towards 2.1409(38.2% fib).

Recommendation: Be on sidelines

  • Market Data
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