Pound Set to Test July Peak Against NZ Dollar

The British pound is expected to continue its upward trend against the New Zealand dollar in the coming week, according to analysts at Pound Sterling Live.

GBP/NZD has been consolidating beneath the July peak, but the uptrend remains intact, and a fresh push towards those highs is anticipated as the Kiwi struggles against a firm U.S. dollar.

The rally has stalled for two weeks beneath the July high, but markets expect the Reserve Bank of New Zealand to raise interest rates on October 28, which should keep any advance measured.

A daily close above 2.3544 would mark a breakout from the consolidation and extend the uptrend, with both the 21-day and 100-day moving averages pointing up beneath the market.