This week, both GBP and NZD got some fundamental news that can change the medium-term outlook of GBNZD. The possibility of another Scottish referendum is increasing and RBNZ’s new rates forecast. Especially, the Reserve Bank of New Zealand’s pointing of a rate hike in 2022 is a major hawkish move and very bullish for NZD. GBPNZD is near key support levels, the 200-day moving average is at 1.9316, the uptrend line which started at the final quarter of 2022 is pointing at 1,9240 and major horizontal support 1,90 is below both of them. If GBPNZD can break these supports, it may enter a major bearish trend which may lead to 1.80. But as long as these supports hold, NZD bull should be careful about unexpected corrections.
