Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: GBP/NZD under pressure as early buying dries up

• GBP/NZD dipped on Tuesday as drops   was-assisted by kiwi dollar strength and the prospect of stimulus from China.

• GBP/NZD probed 2.2281  support  zone, and recovered towards 2.2322, Break lower at 23.6% fib support risks run towards 2.2200 level  .

• From a technical viewpoint, the moving averages are pointing downwards, while the RSI  is   strongly bearish at 29.

• Immediate resistance is located at 2.0326(5DMA), any close above will push the pair towards 2.0427(38.2% fib).

• Strong support is seen at 2.2281 (23.6% fib) and break below could take the pair towards 2.2259 (25th May low).

Recommendation: Good to sell on  around 2.2380, with stop loss of 2.2480 and target price of 2.2220

  • Market Data
Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.