GBP/NZD may fall 52 - 76 pips

2.0894 is our pivot point.

Our preference

Technical rebound towards 2.0894 before a new drop.

Alternative scenario

Above 2.0894, look for 2.0935 and 2.0959.

Comment

The RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price stands above its 20 period moving average (2.0849) but below its 50 period moving average (2.0858).

Supports and resistances

2.0959 **

2.0935 *

2.0894 **

2.0878

2.0857 last

2.0805

2.0781 **

2.0757 *

2.0733 **

Number of asterisks represents the strength of support and resistance levels.