GBP/NZD Live News

This page provides live coverage and news analysis on the GBP/NZD currency pair

Advertiser Disclaimer
Top8forexbrokers would like to remind you that the data contained in this website is not necessarily real-time nor accurate.Prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Top8forexbrokers does not bear any responsibility for any trading losses you might incur as a result of using this data.
Top8forexbrokers or anyone involved with Top8forexbrokers will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Jun. 24, 2021

GBP/NZD down to 1.9718 today, continues bearish run

Live - Updated 10 minutes ago.

GBP/NZD has been losing ground for 3 days, shedding a total of 1.05% of its value. Today's session suggests more of the same – GBP/NZD is dark red after losing 125 pips, tumbling down to 1.9718.

This downslide might be related to financial indicators data published earlier as data for United Kingdom Manufacturing PMI released yesterday at 8:30 AM is better than expected with 64.2, but worse than previous figure of 65.6.

On the flip side United Kingdom Services PMI published yesterday at 8:30 AM came out at 61.7, falling short of the 63 projections and continuing its decline from the previous 62.9 figure. United Kingdom Composite PMI published yesterday at 8:30 AM came out at 61.7, falling short of the 62.8 projections and continuing its decline from the previous 62.9 figure.

An analysis of GBP/NZD chart suggests GBP/NZD nearest support level is at 1.9718, followed by 1.9397 at the next level. In terms of trend indicators, we can see that at 1.9702, GBP/NZD made an initial breakout below the 21 day Simple Moving Average, an indication of a negative trend. Medium-term trend indication has turned negative as the MACD (moving average convergence divergence) index generated a crossover sell signal. This occurs as the MACD line crosses below the MACD signal line.

Overall, looking at the technical analysis landscape, it seems GBP/NZD is likely to continue pointing down in the short term.

Also today, USD/HKD trades around 7.7631, with no major change. Nasdaq up 108.63 points to 14,380 building up on its four days of gains.

Market will be looking forward for upcoming data for New Zealand Balance of Trade is expected today at 10:45 PM. United Kingdom CFTC GBP speculative net positions scheduled to come out tomorrow at 7:30 PM.

GBP/NZD started the year by gaining 4%. Looking at the long term behavior shows GBP/NZD has been trading sideways for the last 6 months.

follow us:

Week to date

GBP/NZD erases gains after it rallies beyond 1.996 for the first time in 10 months, trading at 1.9718 .

Trading week in a glance - Late into the trading week GBP/NZD loses 153 pips(0.77%), currently trading at 1.9718. (Start trading GBP/NZD at FXTM today).

This downslide might be related to financial indicators data published earlier as data for United Kingdom Manufacturing PMI released yesterday at 8:30 AM is better than expected with 64.2, but worse than previous figure of 65.6.

On the flip side, positive data for GBP/NZD released earlier when United Kingdom Services PMI fall short of the 63 projections, with 61.7 and continued its downward trajectory from previous figure of 62.9. United Kingdom Composite PMI fall short of the 62.8 projections, with 61.7 and continued its downward trajectory from previous figure of 62.9. United Kingdom Retail Sales published Friday came out at -1.4%, falling short of the 1.6% projections and continuing its decline from the previous 9.2% figure.

Meanwhile, United Kingdom BoE MPC vote unchanged (Jun) matches projections with new data release of nine. The indicator value is unchanged and is the same as previous data of nine.

In the meantime negative performances are also seen in other symbols, Pound/Yen dropped to 151.29, hitting a 8 weeks low.

However positive performance can be seen looking at other symbols as after 2 months, USD/SGD hits a fresh high at 1.3476.

Outlook for rest of the week: Market will keep its eye on the following upcoming macroeconomics indicators: United Kingdom Manufacturing PMI is expected Thursday.