GBP/NZD Price & Performance (GBPNZD)

The Pound-to-New Zealand Dollar exchange rate has retreated further after an interim peak last week. Analysts predict continued weakness as technical indicators like the Relative Strength Index and a fall below the nine-day EMA signal a bearish trend. Support levels at 2.2430 and 2.2160 are being closely monitored.1

Thursday’s GDP data release for New Zealand’s Q4 is expected to impact the NZD. A stronger-than-expected growth rate could signal economic resilience, while weaker figures may increase rate cut speculation. Analysts are predicting quarterly growth at 0.1%, down from 0.3%, and annual growth at 1.5%, down from 1.9%.1

The Bank of England is expected to hold interest rates steady at 4.50% during its Thursday meeting. Market focus will be on the tone of its guidance. A cautious stance could support the GBP, but any hint of earlier rate cuts may weaken the currency. Analysts are watching closely.1