Forecasts of the movement of the New Zealand pound pair

GBP NZD at the basic level

The New Zealand pound pair fell on Tuesday for the second day in a row in light of the scarcity of economic data, as we are waiting for the Westpac Consumer Confidence Index from New Zealand tomorrow morning, then the current account, and on the other side of the UK we are waiting for inflation data represented by the Consumer Price Index.

GBP NZD at the technical level

After the New Zealand pound pair completed the shark harmonic pattern near the levels of the uptrend on the four-hour frame, we expect the pair to bounce higher as a correction at the very least.

We are targeting the levels of 2.2380 and then 2.2480 as the final target.

It is possible to buy from current levels up to 2.2300 levels.

This scenario fails if the 2.2275 levels break down, and then we target the 2.2235 levels to complete the extended shark harmonic model, from which it is possible to think about buying it again.