Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro:GBP/NZD consolidates above 1.9500 ,maintains bullish bias

• GBP/ NZD gained on Monday as buoyant UK rates outlook lifted the pair.

• The pound is likely to remain buoyant, out-performing growth laggards and keeping pace with New Zealand dollar.

• A close above 1.9557 (Higher BB),   should trigger a new bullish phase with potential for 1.9602. A break under 1.9486(38.2%fib) would unmask 1.9400 level in the short term. 

• Technical signals are bearish as RSI is at 46, 21, 30 DMAs are trending down. 

• Immediate resistance is located at 1.9557 (Higher BB), any close above will push the pair towards 1.9597 (38.2%fib).

• Immediate support is seen at 1.9484 (38.2% fib) and break below could take the pair towards 1.9465 (21DMA).

Recommendation: Good buy around 1.9520 with stop loss of 1.9460 and target price of 1.9600
 

  • Market Data
Close

Welcome to EconoTimes

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