Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro:GBP/NZD dips amid growing rate, geo-political angst

• GBP/NZD dipped on Tuesday as worries about Russian-Ukraine war  and Britain's economic outlook weighed on sterling.

• The pair  already under pressure from reduced  expectations for BoE rate hikes this year , dropped beneath 38.2% fib support.

• Technicals are favouring bearish sentiment as RSI is at 48 and the pair is trading below   11 & 21-DMAs.

• Immediate resistance is located at 1.9218 (38.2% fib), any close above will push the pair towards 1.9250 (5 DMA)

• Support is seen at 1.9031 (23. 6% fib) and break below could take the pair towards 1.8859 (April 13th low).

Recommendation: Good to sell  around 1.9150, with stop loss of 1.9300 and target price of 1.9050.

  • Market Data
Close

Welcome to EconoTimes

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