GBP/NZD
Investors' negative sentiment supports the British pound – New Zealand dollar pair, which normally moves in the direction opposite to that of the financial markets. On the technical level, the pair on the verge of a meaningful signal for the beginning of a new upwards movement. The downwards trend line meets a meaningful Fibonacci resistance level around the 2.0750 price level.
A daily close over this level is expected to filter out a false breach and push the pair upwards towards the nearest resistance level at 2.1050. Should that, too, be breached, the pair is expected to continue moving north towards the strong 2.1500 resistance level, a level which may serve as an exit goal from the buy position on the pair.
