GBP/NZD may rise 102 - 150 pips

Our pivot point stands at 2.1125.

Our preference

Rebound towards 2.1342.

Alternative scenario

The downside breakout of 2.1125 would call for 2.1046 and 2.0998.

Comment

The RSI is below its neutrality area at 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price stands above its 20 period moving average (2.1190) but below its 50 period moving average (2.1219).

Supports and resistances

2.1437 **

2.1389 *

2.1342 **

2.1294

2.1192 last

2.1157

2.1125 **

2.1046 *

2.0998 **

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