GBP/NZD may rise 102 - 149 pips

2.1164 is our pivot point.

Our preference

As long as 2.1164 is support look for 2.1379.

Alternative scenario

The downside breakout of 2.1164 would call for 2.1084 and 2.1037.

Comment

The RSI is above 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the price is below its 20 period moving average (2.1231) but above its 50 period moving average (2.1200).

Supports and resistances

2.1474 **

2.1427 *

2.1379 **

2.1332

2.1230 last

2.1196

2.1164 **

2.1084 *

2.1037 **

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