FX News

NZD/GBP Conversion:

Market rot set in quickly off Monday’s open, risk conditions slumped, and equities are down large. The British Pound (GBP) regained last week’s losses shifting from the 0.5210 (1.9200) areas to 0.5130 (1.9490) into early Tuesday. Looking ahead we have NZ inflation expectations and UK prelim GDP q/q. A retest of last week’s low at 0.5115 (1.9550) the 4 March low looks a given as the bearish run continues.

Current Level: 0.5099 (1.9620)
Resistance: 0.5190 (1.9680)
Support: 0.5160 (1.9280)
Last Weeks Range: 0.5114-0.5253 (1.9035-1.9551)

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