GBP/NZD may rise 101 - 148 pips

Our pivot point is at 2.1243.

Our preference

As long as 2.1243 is support look for 2.1461.

Alternative scenario

The downside breakout of 2.1243 would call for 2.1165 and 2.1118.

Comment

The RSI is above 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the price is above its 20 and 50 period moving average (respectively at 2.1292 and 2.1262).

Supports and resistances

2.1555 **

2.1508 *

2.1461 **

2.1414

2.1313 last

2.1274

2.1243 **

2.1165 *

2.1118 **

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