FX.co ★ Technical analysis of GBP/NZD for April 21, 2016

GBP/NZD is steadily moving lower and at this point no obvious signs of reversal are presented. Price broke below the strong support near 2.0600 and currently it is retesting it.

At the same spot, GBP/NZD rejected the downtrend trend line once. It may retest and reject it once again. Consider selling upon the breakout of the today's low at 2.0530, targeting 2.0300 psychological support level that corresponds with the lower trend line of the descending channel.

Support: 2.0300

Resistance: 2.0600