GBP/NZD may rise 88 - 132 pips

Our pivot point is at 2.1288.

Our preference

As long as 2.1288 is support look for 2.1485.

Alternative scenario

The downside breakout of 2.1288 would call for 2.1214 and 2.1170.

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 2.1343 and 2.1319).

Supports and resistances

2.1573 **

2.1529 *

2.1485 **

2.1441

2.1353 last

2.1317

2.1288 **

2.1214 *

2.1170 **

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