GBPNZD Offering Bullish SwingGBPNZD has broken above a key daily resistance zone around 2.2800–2.2850 with a clean bullish swing, demonstrating strong upward momentum. Price continues to react from lower levels, forming higher lows and confirming bullish continuation. A sustained push above the recent high (2.3090) could see the pair extend toward 2.3300–2.3400, offering a compelling risk-to-reward setup for trend-following strategies.
Fundamentals strongly support this move. Markets remain focused on RBNZ’s upcoming decision, with expectations leaning toward a 25bp cut in the OCR. If guidance signals further easing, it will propel NZD weakness, which benefits GBP. Meanwhile, the Bank of England’s latest "hawkish cut" and sticky UK inflation readings have dampened speculations of aggressive future cuts. This policy divergence supports continued strength in GBP/NZD. According to one outlook, the pair may pull back in the short term to relieve RSI overbought conditions—but the rally remains intact, with targets toward the mid-2.30s.
Moreover, technical sentiment is positive: long-term forecasts position GBP/NZD with upside toward 2.35–2.47 by year-end. Models still rate it as a "strong buy" over both weekly and monthly timeframes.
Structurally, entries near 2.2850–2.2900 on minor retests—ideally near the new support zone—offer favorable value with risk managed below recent swing lows. Stops under 2.2700 provide room for the structure without overexposing. With macro and technical factors aligned, the pair looks set for a fresh leg higher.
