GBP/NZD may rise 99 - 145 pips

2.1152 is our pivot point.

Our preference

The upside prevails as long as 2.1152 is support.

Alternative scenario

The downside breakout of 2.1152 would call for 2.1074 and 2.1027.

Comment

The RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 2.1181 and 2.1182).

Supports and resistances

2.1459 **

2.1412 *

2.1366 **

2.1320

2.1221 last

2.1182

2.1152 **

2.1074 *

2.1027 **

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