Ransquawk

An interesting technical and fundamental situation is created on the daily chart of the GBP/NZD pair. After the sharp wave of drops in October, an upward move would be expected now, especially as the wider trend continues to grow. For several days, we have a consolidation that resembles the end of declines at the end of September. Breaking up from it could open the way to the next growth impulse. If this does not happen, not much below the last low we have a well-respected line of upward trend and probably there will be another chance for the bulls. The main topic of the week will be the meeting of the New Zealand Bank. It is possible that on Wednesday evening we will hear something that will move the market. If the message is not positive, it seems that after a wave of drops, there will be a chance to bounce up. On the other hand, only the issue of brexit negotiations counts. Here we are waiting for the announcement of the convening of the next EU summit. Given the date would mean that the British side prepared a draft agreement. Even if it does not change much in this matter, just giving the date of the summit would trigger a wave of speculation about it, and that could strengthen Pound.

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