GBP/NZD may rise 107 - 155 pips

2.1149 is our pivot point.

Our preference

Rebound.

Alternative scenario

The downside breakout of 2.1149 would call for 2.1068 and 2.1020.

Comment

The RSI is above its neutrality area at 50. The MACD is above its signal line and negative. The MACD must break above its zero level to trigger further gains. Moreover, the price stands above its 20 period moving average (2.1216) but below its 50 period moving average (2.1221).

Supports and resistances

2.1468 **

2.1420 *

2.1372 **

2.1324

2.1217 last

2.1181

2.1149 **

2.1068 *

2.1020 **

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