GBP/NZD may fall 98 - 145 pips

2.1212 is our pivot point.

Our preference

The downside prevails as long as 2.1212 is resistance.

Alternative scenario

Above 2.1212, look for 2.1293 and 2.1341.

Comment

The RSI is below its neutrality area at 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 2.1163 and 2.1193).

Supports and resistances

2.1341 **

2.1293 *

2.1212 **

2.1181

2.1140 last

2.1042

2.0995 **

2.0947 *

2.0899 **

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