GBPNZD

The currency pair bounced sharply after the RBNZ decision. Technically, in the medium-term perspective, the current price action signals suggest that the bullish trend remains intact. However, in the short term, a significant resistance level persists at 2.3150, a critical level that could affect near-term price movements.

Key Indicators

• Despite the rebound, the 1-hour chart reveals this rally is overextended even by aggressive standards, showing signs of exhaustion on lower timeframes. Therefore, short‑term pullbacks are possible within broader consolidation.

Fundamental Context

The Reserve Bank of New Zealand (RBNZ) hiked its Official Cash Rate by 25 bps to 2.75%—its second consecutive increase—as inflation reached 4.1%, well above its 1%–3% target.