long GBP/NZDFundamentals:- With the BOE slowly having its members move over to the rate hiking side of coin we can expect further downside of the GBP to be limited to previous support levels. Business confidence in NZD has fallen consistently for several readings and the dry weather has not helped GDP. We can expect the RBNZ to keep rates on hold for some time and economic growth to be slow in New Zealand.
Technicals:- The current price is banging up upon a local support area and should act as a catalyst for the next up move.
