GBP/NZD Transfer

ByDragana My Engine Lab

The British Pound (GBP) wasn’t able to hold the weekly close at 0.4430 (2.2560),dropping back Monday against the Australian Dollar (AUD) to 0.4470 (2.2370) this morning as risk markets improved. UK CPI y/y Wednesday should come in at 3.3% vs 3.5% in April with expectations the Bank of England (BoE) will leave their cash rate unchanged at 4.25% Thursday night. NZ GDP for the 1st quarter shouldn’t rattle any cages with predictions of a rise of 0.7% following fourth quarters 0.7%. Flows this week could mostly ignore incoming data playing second string to geopolitical developments in the middle East.

Current Level: 2.2441
Resistance: 2.2750
Support: 2.2200
Last Weeks Range: 2.2269 – 2.2588

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