GBP/NZD may fall 74 - 104 pips

Our pivot point is at 2.0805.

Our preference

The downside prevails as long as 2.0805 is resistance.

Alternative scenario

Above 2.0805, look for 2.0855 and 2.0885.

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 2.0776 and 2.0795).

Supports and resistances

2.0885 **

2.0855 *

2.0805 **

2.0785

2.0765 last

2.0691

2.0661 **

2.0631 *

2.0601 **

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