FX News

NZD/GBP Transfer

This week’s Bank of England (BoE) policy statement and official Cash Rate holds centre stage on the calendar with expectations the central bank will maintain their hold of 5.25%. We are predicting a less hawkish approach from the Bank of England which has possibly given rise to the New Zealand Dollar (NZD) of late. Prices in the pair have come back a long way from mid last week’s 0.4705 (2.1250) level to this morning’s 0.4785 (2.0890) bouncing off the Fib 50% level at 0.4805 (2.0820) of note. With risk sentiment still good we could see a push back into the 48’s this week.

Current Level: 0.4781
Resistance: 0.4805
Support: 0.4770
Last Weeks Range: 0.4705- 0.4800

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