Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro:GBP/NZD maintains bullish bias with focus on 2.0000

• GBP/ NZD initially dipped on Thursday but recovered ground  on expectation Bank of England will  raise rates next week.

• The BoE meets next week with a 75bp hike mostly favored versus the more than 100bp increase seen amid the recent mini-budget ructions.

• Technical signals are strongly bullish  as RSI is bullish at 62, 5, 9,11 DMAs are trending up. 

• Immediate resistance is located at 1.9981(Daily high), any close above will push the pair towards 2.0108 (23.6%fib).

• Immediate support is seen at 1.9807 (38.2%fib) and break below could take the pair towards 1.9633 (30DMA).

Recommendation: Good buy around 1.9840, with stop loss of 1.9700 and target price of 2.0000
 

  • Market Data
Close

Welcome to EconoTimes

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