Range trading continues in the New Zealand Dollar (NZD), British Pound (GBP) pair this week. Last week’s moves were a reversal of the previous week with price shifting from the top of the range to the bottom. Currently sitting at 0.4805 (2.0812) as we head into the week. Support is 0.4800 (2.0860) and Resistance is 0.4850 (2.0620) on the chart- we look for a break outside of this zone to gauge further direction. On the Calendar we have the final days leading into the UK elections on the 4th of July.
Current Level: 0.4790
Resistance: 0.4855
Support: 0.4755
Last Weeks Range: 0.4794- 0.4848