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  • GBP/NZD dropped more than 250 pips after the Reserve Bank of New Zealand (RBNZ) held its official cash rate (OCR) unchanged with no likely alterations during the year 2019 and 2020.
  • Traders now await RBNZ Governor Adrian Orr’s press conference for fresh impetus.
  • The four hour chart shows an upward sloping trend-line connecting January and February lows, at 1.0800, to be the next major support for the pair.
  • Should the pair slides under 1.8800, 1.8600 and 1.8380 are likely following numbers to flash on bears’ radar.
  • On the upside, a descending resistance-line at 1.9170 can keep limiting the pair’s immediate advances, a break of which may trigger the pair’s recovery towards 1.9300 and then to the January high near 1.9425.
  • In case buyers’ dominate past-1.9425, the 61.8% Fibonacci expectation of its December – February moves, at 1.9560, gain market attention.

GBP/NZD 4-Hour chart

GBP/NZD

Overview:
       Today Last Price:  1.896
       Today Daily change:  -177  pips
       Today Daily change %:  -0.92%
       Today Daily Open:  1.9137
Trends:
       Daily SMA20:  1.9108
       Daily SMA50:  1.8876
       Daily SMA100:  1.9167
       Daily SMA200:  1.9278
Levels:
       Previous Daily High:  1.9173
       Previous Daily Low:  1.9074
       Previous Weekly High:  1.9247
       Previous Weekly Low:  1.8757
       Previous Monthly High:  1.9427
       Previous Monthly Low:  1.8603
       Daily Fibonacci 38.2%:  1.9135
       Daily Fibonacci 61.8%:  1.9112
       Daily Pivot Point S1:  1.9083
       Daily Pivot Point S2:  1.903
       Daily Pivot Point S3:  1.8985
       Daily Pivot Point R1:  1.9182
       Daily Pivot Point R2:  1.9227
       Daily Pivot Point R3:  1.9281