GBP/NZD may fall 89 - 131 pips

Our pivot point is at 2.1532.

Our preference

The downside prevails as long as 2.1532 is resistance.

Alternative scenario

Above 2.1532, look for 2.1601 and 2.1643.

Comment

The RSI is below its neutrality area at 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 2.1498 and 2.1521).

Supports and resistances

2.1643 **

2.1601 *

2.1532 **

2.1505

2.1473 last

2.1384

2.1342 **

2.1301 *

2.1260 **

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