On weekly chart GBP/NZD drops are extremely dynamic. Although first months of this year were marked by increases, supply quickly recovered. In last 2 months, declines have covered the greater part of a much longer lasting growth. It seems that in the longer term prices may even move to the level of last year’s minima.

Check out the terms and conditions of trading with the XM broker

Daily chart shows that pair moves in area of significant support around downward movement lows. Unfortunately, so far, no demand response has been seen, and lows of declines are violated. It seems that support may be broken and that move would be consistent with continuation of declines at least to the line joining last three lows.

Error, group does not exist! Check your syntax! (ID: 3)