GBPNZD – Short-term rally opportunity?

by JFD Research
09:04, 2025/01/10

The currency pair GBPNZD has consolidated its rally movement in the last two weeks. From the high of 2.2421, the exchange rate returned to the breakout level of around 2.1900. This area has a significant support cluster consisting of horizontal support, a falling trend line, and a 61.8% Fibonacci retracement.

Our main scenario envisages a renewed rally to new highs above 2.2500. This could start immediately.

This scenario is no longer valid when the exchange rate falls below 2.177 on a daily closing price basis. In this case, further downside targets at 2.1500 come into focus.

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