News

FxWirePro:GBP/NZD falls below 1.9450 as UK lockdown talk move back into focus

Posted at 08 December 2021 / Categories Market Roundups


• GBP/NZD declined on Wednesday    as news of potential COVID-related restrictions in UK weighed on Sterling.

• Imminent lockdown in ?UK to halt the spread of the Omicron variant dampened speculation about a rate hike at the December 16 MPC meeting.

• The pair dropped to test 1.9415 (50%fib ). A break under  50%fib would unmask 1.9300   level.

• Technical signals show bearish momentum   RSI is heading south,while moving averages 5,9.14 DMA’s are trending southwards.

• Immediate resistance is located at 1.9490 (30DMA ), any close above will push the pair towards 1.9531 (61.8%fib).

• Immediate support is seen at 1.9415 (50%fib ) and break below could take the pair towards 1.9300 (38.2% fib ).

Recommendation: Good to sell around 1.9450, with stop loss of 1.9570 and target price of 1.9380


Simply the best forex trading platform. Mobile platform also available.

download mt4

Start trading forex in 5 minutes. Get 20% deposit bonus.

Open Live Account

Free $10000 forex virtual trading account. Practice makes perfect.

Open Demo Account
LiveZilla Live Chat Software