FX.co ★ Forecast for GBP/NZD for June 10, 2014

GBP/NZD

Monthly forecast-

The pair has been in an uptrend from the 1.9203 levels and moving towards the 61.8 fib level. The pair paused its rally at the 61.8 fib level and closed at the 50.0 fib level. The pair has a strong support at 1.9665 and 1.96 (50 weeks SMA). On the down side, once the pair breaks 1.96, a bearish flag will hoist for a downside target of 1.9427 levels. On the up side, if the pair crosses the 1.98 level, it can fly up to 1.9927, 2.0, and 2.0188 levels.