FX.co ★ GBP/NZD

The setup for further growth in the GBPNZD currency pair remains intact. The prices are moving upwards, with pullbacks of course, but the key point is that they are moving upwards. Managing to hold above 2.3150-2.3200 is a positive signal for the continuation of the upward trend towards the next targets: 2.3340, 2.3385, 2.3440, and possibly up to 2.3515-2.3545. Currently, this is the main scenario, although the market may change its sentiment at any moment. If sellers manage to push the EURNZD price below 2.3150-2.3135, then the decline could continue towards 2.3070 and 2.3020 - where a bounce could occur again. If the price drops below 2.3020, then the downward movement may extend towards 2.2950 and possibly even closer to 2.2800.