The pound sterling dented after calls by UK PM for independence Scottish referendum.
On the positioning front, speculative net GBP shorts have climbed to the highest level since mid-December for the week ended on February 21.
GBP/NZD breaks below 20-DMA, scope for test of 1.690 (trendline support).
Technicals are bearishly aligned, RSI and stochs are biased lower.
Support levels - 1.7041 (Jan 31 low), 1.690 (trendline and Feb 7 low), 1.6875 (Jan 17 low)
Resistance levels - 1.7275 (20-DMA), 1.7323 (5-DMA), 1.7387 (100-DMA)
Good to go short with SL: 1.7275, TP: 1.7150/ 1.7040/ 1.690
On the positioning front, speculative net GBP shorts have climbed to the highest level since mid-December for the week ended on February 21.
GBP/NZD breaks below 20-DMA, scope for test of 1.690 (trendline support).
Technicals are bearishly aligned, RSI and stochs are biased lower.
Support levels - 1.7041 (Jan 31 low), 1.690 (trendline and Feb 7 low), 1.6875 (Jan 17 low)
Resistance levels - 1.7275 (20-DMA), 1.7323 (5-DMA), 1.7387 (100-DMA)
Good to go short with SL: 1.7275, TP: 1.7150/ 1.7040/ 1.690