- GBP/NZD trending lower
- Next target identified
- Watch UK PMI for direction Thursday
- Broader USD pullback can aid NZD
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The Pound to New Zealand Dollar exchange rate (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.
Downside momentum in GBP/NZD looks more confident than in the main antipodean Pound-Australian Dollar exchange rate, where we also see the potential for near-term weakness but to a lesser degree.
The GBP/NZD rate’s RSI momentum indicator is at 44 and is…
