USDX
105.637

0.21%

XAUUSD
1925.47

0.30%

WTI
89.936

0.71%

EURUSD
1.06413

0.18%

GBPUSD
1.22342

0.49%

USDJPY
148.360

0.54%

USNDAQ100
14707.75

0.20%

Global Markets

News
New AI Signals
Analysis

From Institutions From Analysts

Latest Views

Latest Views

Columns

Topics Columnists

Trending Topics

Daily News

To quickly learn market dynamics and follow market focuses in 15 min.

Central Bank

Inflation, exchange rates, and the economy shape the policy decisions of central banks; the attitudes and words of central bank officials also influence the actions of market traders.

Traders' Opinions

View trading ideas and learn trading strategies.

Forex

Money makes the world go round and currency is a permanent commodity. The forex market is full of surprises and expectations.

Top Columnists

FastBull Featured

The latest breaking news and the global financial events.

Devin

I have 5 years of experience in financial analysis, especially in aspects of macro developments and medium and long-term trend judgment. My focus is maily on the developments of the Middle East, emerging markets, coal, wheat and other agricultural products.

Mohammad Omar

BeingTrader chief Trading Coach & Speaker, 8+ years of experience in the forex market trading mainly XAUUSD, EUR/USD, GBP/USD, USD/JPY, and Crude Oil. A confident trader and analyst who aims to explore various opportunities and guide investors in the market. As an analyst I am looking to enhance the trader’s experience by supporting them with sufficient data and signals.

Jan Aldrin Laruscain

Jan Aldrin Laruscain is a market analyst of Forexway and enthusiast in trading currencies and indices. With his degree and passion for Finance, he have devised a specific way of trading which breaks down the market through orderflow analysis with deep consideration for fundamentals. He also write and create commentaries on the latest trends about all things finance!

7x24
Economic Calendar
Quotes

Data

Data Warehouse Market Trend Institutional Data Policy Rates Macro

Market Trend

Speculative Sentiment Orders and Positions Correlation

Popular Indicators

Pro

Business

White Label

Data API

Web Plug-ins

Recent Searches
    Trending Searches
      News
      Analysis
      7x24
      Quotes
      Economic Calendar
      Data
      • Names
      • Latest
      • Prev.

      View All

      No data

      Sign in

      Sign up

      Upgrade to Pro Freely

      --

      • My Favorites
      • Following
      • My Subscription
      • Profile
      • FastBull Pro
      • Account Settings
      • Sign Out

      Scan to download

      Faster Financial News and Market Quotes

      Download App
      Reminder Settings
      • Economic Calendar
      • Quotes/Market Quotes

      Reminders Temporarily Unavailable

      I have a redeem code

      Rules for using redeem codes:

      1. The activated redeem code cannot be used again

      2. Your redeem code becomes invalid if it has expired

      Redeem

      FastBull Membership Privileges

      Quick access to 7x24

      Quick access to more editor-selected real-time news

      Follow more assets

      You can add more assets to your watchlist to follow more real-time quotes.

      More comprehensive macro data and economic indicators

      More comprehensive historical data on indicators to help analyze macro markets

      Share to get free Pro
      Upgrade to FastBull Pro
      Back to member privileges
      Share to get free Pro Upgrade to FastBull Pro

      Share to get 1-year PRO for free

      Invite new users to Click on your sharing link. After they complete registration and login, you can get one-year membership.
      Share the link to get membership
      Copy

      FaceBook

      Twitter

      Linkedin

      Line

      Email

      Whatsapp

      Telegram

      Scan QR code with mobile phone

      Upgrade to FastBull Pro

      I have read and agreed to the
      Pro Policy
      Feedback
      0 /250
      0/4
      Contact Information
      Submit

      Short-Term Weakness Amid Long-Term Positivity

      ForexTraders' Opinions
      Summary:

      The GBPNZD currency pair has encountered a short-term corrective pullback from its recent multi-year highs, presently trading at 2.0950...

      BUY GBPNZD
      EXP
      PENDING

      2.10000

      Opening Price

      2.20000

      TP

      2.07000

      SL

      2.05107 -0.02134 -1.03%

      --

      Point

      PENDING

      2.07000

      SL

      Closing Price

      2.10000

      Opening Price

      2.20000

      TP

      Short-Term Weakness

      In recent trading sessions, GBPNZD has experienced a short-term retracement, stepping back from its multi-year highs reached in August. Currently trading at 2.0950, this currency pair may continue its corrective movement over the next few days. Investors and traders are closely monitoring this short-term weakness for potential opportunities.

      Medium-Term Trend

      Despite the short-term correction, the medium-term trend for GBPNZD remains fundamentally bullish. A crucial technical indicator supporting this view is the 200-day MA. As long as the exchange rate holds above this moving average, the broader trend is perceived as positive. The 200-day MA serves as a critical level for discerning medium-term market sentiment.

      New Zealand Data Focus

      One of the key influencers of GBPNZD's trajectory in the upcoming days is New Zealand's GDP data for the June quarter. Market expectations point toward 0.4% growth. This release is of utmost significance as it has the potential to impact the New Zealand Dollar significantly. Furthermore, market participants will closely scrutinize the GDT dairy auction, which includes whole milk powder prices, given its implications for New Zealand's export-driven economy.

      Current Account Deficit

      New Zealand's long-standing current account deficit remains a concern, although it has started to narrow in 2023. It is imperative to monitor this deficit, as a sustained imbalance can exert downward pressure on the New Zealand Dollar. Changes in trade dynamics and external economic conditions are critical factors affecting the deficit's trajectory.

      Bank of England and UK Inflation

      Events in the United Kingdom also play a pivotal role in influencing GBPNZD's movements. The Bank of England (BoE) is expected to raise interest rates by 25 basis points. However, market participants will be keen to discern whether the central bank signals a pause in the rate-hiking cycle, a factor that could significantly impact GBPNZD. Additionally, UK inflation data will be released, with expectations of 7.1% year-on-year. A stronger-than-expected inflation figure may bolster the Pound, while a below-consensus print could favor GBP in the longer term.

      Technical Analysis and Future MomentumShort-Term Weakness Amid Long-Term Positivity_1

      Price action has recently tested a critical support zone and failed to breach it. This development suggests that the currency pair has a solid chance of continuing its bullish run. However, the upcoming week's news events, including economic data releases and central bank decisions, will likely dictate the magnitude and direction of this momentum.
      As GBPNZD navigates short-term headwinds within a broader bullish trend, traders and investors will be closely monitoring these catalysts to make informed decisions in the dynamic forex market.

      TRADE RECOMMENDATION

      BUY GBPNZD
      ENTRY PRICE: 2.100
      STOP LOSS: 2.0700
      TAKE PROFIT:2.200
      Risk Warnings and Investment Disclaimers
      You understand and acknowledge that there is a high degree of risk involved in trading with strategies. Following any strategies or investment methodologies is the potential for loss. The content on the site is being provided by our contributors and analysts for information purposes only. You alone are solely responsible for determining whether any trading assets, or securities, or strategy, or any other product is suitable for you based on your investment objectives and financial situation.

      Quick access to 7x24

      Quick access to more editor-selected real-time news

      Exclusive video for free

      FastBull project team is dedicated to create exclusive videos

      Follow more assets

      You can add more assets to your watchlist to follow more real-time quotes.

      More comprehensive macro data and economic indicators

      More comprehensive historical data on indicators to help analyze macro markets

      Member-only Database

      Comprehensive forex, commodity, and equity market data

      Warren Takunda

      Analyst

      Warren Takunda is an experienced financial analyst and CFO at Verge Capital in Dubai, with a proven track record in the finance industry. He leads the finance team and is responsible for financial planning, analysis, and reporting. Warren has extensive experience in financial modeling and investment analysis, which enables him to provide valuable insights to clients.

      Ranking

      9

      Articles

      359

      Win Rate

      49.83%

      P/L Ratio

      0.91

      Focus on

      EURUSD, XAUUSD, GBPUSD

      Related Analysis

      Pound at Crossroads: BoE's Interest Rate Hold Sends GBP to Six-Month Low

      PENDING

      Could Resistance at 0.91 Be the Key for USD/CHF Bulls?

      PENDING

      Will the Recent Fed Decision Trigger Profit-Taking?

      TRADING

      How Will SNB's Interest Rate Decision Impact AUD/CHF?

      TRADING

      Time to Bet Against the Rally?

      PENDING
      FastBull
      English
      English
      العربية
      繁體中文
      简体中文
      Bahasa Melayu
      Bahasa Indonesia
      ภาษาไทย
      Tiếng Việt
      Telegram Instagram Twitter facebook linkedin App StoreGoogle Play
      Copyright © 2023 FastBull Ltd
      Home News AI Signals Analysis Columns 7x24 Economic Calendar QuotesData WarehousePro User Agreement Privacy Policy About Us

      Risk Disclosure

      The risk of loss in trading financial assets such as stocks, FX, commodities, futures, bonds, ETFs or crypto can be substantial. You may sustain a total loss of the funds that you deposit with your broker. Therefore, you should carefully consider whether such trading is suitable for you in light of your circumstances and financial resources.

      No consideration to invest should be made without thoroughly conduct your own due diligence, or consult with your financial advisors. Our web content might not suit you, since we have not known your financial condition and investment needs. It is possible that our financial information might have latency or contains inaccuracy, so you should be fully responsible for any of your transactions and investment decisions. The company will not be responsible for your capital lost.

      Without getting the permission from the website, you are not allow to copy the website graphics, texts, or trade marks. Intellectual property rights in the content or data incorporated into this website belongs to its providers and exchange merchants.