GBP/NZD may rise 105 - 153 pips

2.0968 is our pivot point.

Our preference

Rebound towards 2.1188.

Alternative scenario

The downside breakout of 2.0968 would call for 2.0888 and 2.0840.

Comment

The RSI is below its neutrality area at 50. The MACD is negative and above its signal line. The configuration is mixed. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 2.1048 and 2.1114).

Supports and resistances

2.1283 **

2.1235 *

2.1188 **

2.1140

2.1035 last

2.1000

2.0968 **

2.0888 *

2.0840 **

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