The British Pound (GBP) reached a key level overnight against the New Zealand Dollar (NZD) of 0.4565 (2.1900) before giving back gains to 0.4600 (2.1735) early today. 0.4565 (2.1900) being the lowest level since Brexit voting mid-2016. We have no significant tier 1 data on the calendar over the next few days only UK GDP m/m to release Friday which shouldn’t move the cross significantly. A retest of 0.4635 (2.1570) is our pick with further recovery by the kiwi expected.
Current Level: 2.1791
Resistance: 2.1900
Support: 2.1550
Last Weeks Range: 2.1471- 2.1863