During yesterday’s trading session GBP/NZD traded within the range of 1.9471-1.9561 and closed at 1.9554.
At 7:58 GMT today GBP/NZD was adding 0.05% for the day to trade at 1.9560. The pair touched a daily high at 1.9562 at 7:30 GMT.
Fundamental view
The number of approved loans for house purchases in the country probably decreased to 41 000 in May from 42 173 in the preceding month. The British Bankers’ Association will release the official figure at 8:30 GMT.
The indicator is closely watched by traders and other market players as it can be seen as a gauge of the health of the British housing market. The indicator includes more than 50% of the total mortgage market in the UK.
In case, the number of approved mortgages falls less than expected, this would boost sterling’s demand.
Technical view
According to Binary Tribune’s daily analysis, in case GBP/NZD manages to breach the first resistance level at 1.9586, it will probably continue up to test 1.9619. In case the second key resistance is broken, the pair will probably attempt to advance to 1.9676.
If GBP/NZD manages to breach the first key support at 1.9496, it will probably continue to slide and test 1.9439. With this second key support broken, the movement to the downside will probably continue to 1.9406.
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