GN update

Recent posts on Forex Factory indicate that the fundamentals for both the British Pound and the New Zealand Dollar are showing mixed signals—with the Pound gaining some support from improved UK economic data, while concerns persist over New Zealand’s outlook amid global risk–off sentiments. Meanwhile, the latest COT report shows that large institutional traders are leaning toward a stronger GBP positioning relative to the Kiwi.

Taken together, these factors suggest that GBPNZD is likely to edge higher over the coming days, as the Pound outperforms New Zealand’s Dollar in the near term.

Awaiting bullish move to convergence point on technicals