GBP/NZD looks prefer it’s losing its bearish momentum after falling from its 2.2750 highs.

Are the bulls just taking a breather?

Listed here are levels to observe when you imagine GBP/NZD will soon extend its longer-term trend:

GBP/NZD Day by day Forex Chart by TradingView

China’s latest consumer-focused stimulus plan and easing global growth concerns gave the Recent Zealand dollar an early boost against the British pound this week.

But momentum appears to be shifting against commodity-linked currencies as traders gear up for the FOMC decision and renewed tariff concerns.

Keep in mind that directional biases and volatility conditions in market price are typically driven by fundamentals. In the event you haven’t yet done your homework on the British pound and Recent Zealand dollar, then it’s time to envision out the economic calendar and stay updated on every day fundamental news!

GBP/NZD, which has been climbing inside an ascending channel since mid-2024, dropped sharply from its 2025 highs near 2.2750.

That selloff, nonetheless, appears to be losing steam. GBP/NZD is now printing green candlesticks around 2.2350, a key area that lines up with the every day Pivot Point, the 38.2% Fibonacci retracement of February’s rally, and the channel support on the every day chart.

Is GBP/NZD gearing up to increase its longer-term uptrend?

A sustained move above 2.2350 could pave the way in which for a retest of the March highs and even fresh 2025 highs.

But when this bounce seems to be only a pause within the downtrend and the pair breaks below the 50% Fib level, bearish setups could come into play, with downside targets at 2.2200 and even the key psychological handle at 2.2000 near channel support.

Whichever bias you find yourself trading, don’t forget to practice proper risk management and stay aware of top-tier catalysts that would influence overall market sentiment!