GBP/NZD
On the last trading sessions, the GBP/NZD has extended its downtrend and has broken below a support at 1.9558 (61.8% retracement of February to May 2012 upward wave and short-term support trend line). This signals an acceleration of the downtrend towards a support at 1.9205 (short-term retracement). Breaking below this level would release more downside potential towards 1.9013 (March 2012 low pivot). The initial resistance is located at 1.9871. (Short : Stop @ 1.9875 ; Target @ 1.9020)
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NATIXIS