FX.co ★ keshaun60 | GBP/NZD

Sellers in the GBPNZD pair, against the backdrop of the strengthening New Zealand dollar, have managed to push the price down, but modestly for this pair. If the pound started (or starts) to weaken, then it could fly south by hundreds of points without pauses. As long as the price is below 2.3315, the decline can continue, and ideally it should pull back to this level (2.3315) before moving toward more distant southern targets. If in the end the bulls manage to consolidate above 2.3315, then the GBPNZD rise can continue to 2.3375, 2.3440 and 2.3500. Of course, it can go even higher, but that can be considered based on how things actually unfold. If they only rise to 2.3315 as part of a pullback, then it will be possible to consider opening a sell order, with the first targets for sellers being the levels 2.3255 and 2.3195. After consolidating below 2.3195 (with or without a pullback), the path will open for the bears to 2.3130 and 2.3070. When the 2.3070 level is successfully broken, sellers will have a real chance to continue the decline to 2.2950 and 2.2825. And if we look a bit further, then if they consolidate below 2.2825, the bears can confidently head toward 2.2705, 2.2585 and even 2.2460.