Pound to New Zealand Dollar Forecast: 2.1497 in Three Months

GBP/NZD was rejected at a key resistance level and we look for the subsequent pullback to extend into the next few days.

What a difference a week can make: when we published our previous week ahead forecast last Monday, the Pound to New Zealand Dollar setup was distinctly bearish.

"This week has a definite make-or-break feel about it as we head into the RBNZ MPS," says David Croy, a strategist at ANZ Bank, regarding the key event facing the New Zealand Dollar.

GBP/NZD is trending lower in the short term and the next target is seen at approximately 2.04; however, a strong UK PMI reading on Thursday could frustrate the move.

GBP/NZD finding support at 50-day moving average, but, more broadly, technicals are breaking down as RBNZ rate hike bets rise.

The Pound to New Zealand Dollar exchange rate can edge higher over the coming days owing to a broadly constructive technical setup and a difficult global backdrop.

The Pound to New Zealand Dollar exchange rate remains in an uptrend, but a failure at a major resistance line raises questions raises the prospect of a pullback developing over the coming days.

GBP/NZD technical setup constructive, further upside possible.

GBP/NZD short-term momentum positive, initial targets identified.

The Pound to New Zealand Dollar exchange rate is in the process of unwinding the weakness that characterised the final quarter of 2024, but it is too soon to suggest a meaningful rally is underway.

The New Zealand Dollar is set to embark on a recovery against the U.S. Dollar in 2024 according to research from one of New Zealand's biggest financial institutions.

Downside momentum is building and threatens to take the Pound to New Zealand Dollar exchange rate to its lowest level since May over the coming week.

The New Zealand Dollar has lost an opportunity to press fresh multi-month highs against both the Pound and U.S. Dollar and a loss of momentum in what will be a busy week for global FX risks a setback.

The New Zealand Dollar is the best-performing major currency in the midweek session as it looks set to extend a month-long period of outperformance.

GBPNZD eyes test of 2.0266, NZDUSD: Westpac bullish this week.

GBPNZD locked in tight range, NZDUSD is constructive, RBNZ is this week's highlight.

The New Zealand Dollar sees a solid start for the new week in sympathy with rising Chinese equity markets, and with little on the U.S., Chinese or New Zealand calendars, further gains can remain possible.

GBPNZD could test 2.10 this week if UK domestic data doesn't disappoint and global risk sentiment sours, but technical studies point to a greater likelihood the pair edges lower over the coming days.

One of New Zealand's most prominent banks says the New Zealand Dollar has likely passed its lows, and improved valuations for NZD sellers beckon over the coming months.

The Pound to New Zealand Dollar exchange rate has come back under pressure and is at risk of further weakness, particularly if Chinese data beats expectations this week and helps extend a recent equity market rebound.