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GBP/NZD Technical Analysis - GBP/NZD Trading: 2022-02-22
GBP/NZD Technical Analysis Summary
Below 2,017
Sell Stop
Above 2,054
Stop Loss
| Indicator | Signal |
| RSI | Sell |
| MACD | Sell |
| MA(200) | Neutral |
| Fractals | Neutral |
| Parabolic SAR | Sell |
| Bollinger Bands | Neutral |
GBP/NZD Chart Analysis
GBP/NZD Technical Analysis
On the daily timeframe, GBPNZD: D1 has broken down the uptrend support line and is forming a triangle. A number of technical analysis indicators formed signals for further decline. We do not rule out a bearish movement if GBPNZD: D1 drops below the latest down fractal: 2.017. This level can be used as an entry point. Initial risk cap possible above the last 2 up fractals, high since May 2020 and Parabolic signal: 2.054. After opening a pending order, we move the stop following the Bollinger and Parabolic signals to the next fractal high. Thus, we change the potential profit/loss ratio in our favor. The most cautious traders after making a trade can switch to a four-hour chart and set a stop loss, moving it in the direction of movement. If the price overcomes the stop level (2.054) without activating the order (2.017), it is recommended to delete the order: there are internal changes in the market that were not taken into account.
Fundamental Analysis of Forex - GBP/NZD
Preparing for the Reserve Bank of New Zealand (RBNZ) meeting. Will the decline in GBPNZD quotes continue?
Downward movement means the strengthening of the New Zealand dollar against the British pound. The next RBNZ meeting will take place on February 23rd. If he confirms his policy of tightening monetary policy, then this may have a positive impact on the New Zealand dollar. The current RBNZ rate is 0.75% with inflation of 5.9% y/y in Q4 2021. The Bank of England (BoE) rate is 0.5% with 5.5% inflation in January 2022. Both central banks have raised their rates twice since the end of the coronavirus epidemic. A negative factor for the British pound may be political tensions in Eastern Europe. Note that on February 23, BoE head Andrew Bailey and other representatives of the British Central Bank will also make speeches.
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