FX News

NZD/GBP Transfer

A slow start to the week in the New Zealand Dollar (NZD), British Pound (GBP) cross has seen the GBP push up slightly on the kiwi to 2.1320 (0.4690) in thin UK holiday trading. The GBP will be targeting last week’s low at 0.4635 (1.1570) with fundamentals favouring further declines in the pair. It’s a very light economic calendar this week with just ANZ Business Confidence Wednesday expected to release poorly. It’s tough going for GBP buyers at current levels, we suggest to look for spikes in an otherwise bear currency.

Current Level: 0.4685
Resistance: 0.4785
Support: 0.4630
Last Weeks Range: 0.4632 – 0.4710

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