The situation on GBPNZD is interesting, since July 18, the pair moves most of the time in a narrow range between 1.9215 and 1.9350. Yesterday, it seemed that in the end the consolidation would be broken due to the decision of the Bank of England. However, this did not happen, the price returned to current levels. Yesterday, after the expected rate hike by the Bank of England there was a strong appreciation of the pound, GBPCAD gains reached the area of 1.9420. However, during the press conference with the participation of Mark Carney, the price fell strongly again to around 1.9270.
We are currently experiencing increases, the price is near the upper limit of consolidation. If there is a permanent break above the resistance at 1.9350, the price may go up to 1.9560 or even 1.9615. There are further resistances from the four-hour chart.
