GBP/NZD - Despite less aggressive action from the BoE yesterday to manage the housing market GBP/NZD found limited buyers

GBP/NZD - Despite less aggressive action from the BoE yesterday to manage the housing market GBP/NZD found limited buyers. This pair is interesting as both corresponding central banks are clearly the most hawkish in the G10 currency region. On the weekly chart GBP/NZD broke below the 2013 uptrend in March and fell 800 pips, before rebounding to 1.9933. A new uptrend has emerged, with the pair making a series of higher highs from March. A close tonight (i.e. a weekly close) below trend support at 1.9436 would be a clear negative and suggest a move to the March low of 1.9084. I will look at short trades on Monday if this materialises.