GBP/NZD may fall 95 - 141 pips

Our pivot point is at 2.1300.

Our preference

The downside prevails as long as 2.1300 is resistance.

Alternative scenario

Above 2.1300, look for 2.1378 and 2.1425.

Comment

The RSI is below 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 2.1262 and 2.1252). Finally, the GBP/NZD has penetrated its lower Bollinger band (2.1237).

Supports and resistances

2.1425 **

2.1378 *

2.1300 **

2.1269

2.1231 last

2.1136

2.1090 **

2.1043 *

2.0996 **

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