{"id":47103,"date":"2019-10-21T06:00:10","date_gmt":"2019-10-21T10:00:10","guid":{"rendered":"https:\/\/currencylive.com\/?p=47103"},"modified":"2019-10-21T08:38:53","modified_gmt":"2019-10-21T12:38:53","slug":"101274-gbp-nzd-pair-forms-bearish-channel-amid-ongoing-brexit-uncertainty","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/101274-gbp-nzd-pair-forms-bearish-channel-amid-ongoing-brexit-uncertainty\/","title":{"rendered":"GBP\/NZD Forms Bearish Channel Amid Ongoing Brexit Uncertainty"},"content":{"rendered":"<p>GBP\/NZD is moving in a bearish channel that started to form on Thursday. Reserve Bank of New Zealand (RBNZ) has published consumer spending data yesterday but the market is mainly driven by the latest Brexit events.<\/p>\n<p>The pair has declined by half of a percentage point during the Asian trading session, currently trading at 2.0168 as of 06.01 AM UTC. The price action is still pointing downward, trying to touch the bottom line of the bearish channel.<\/p>\n<p><strong>Brexit Deadline Might Be Further Delayed<\/strong><\/p>\n<p>UK Prime Minister Boris Johnson reached an agreement with the European Union (EU) last week. But he couldn\u2019t obtain the parliament\u2019s vote at home, as the majority of MPs voted to withhold approval.<\/p>\n<p>The British government stated that the UK would leave the EU on October 31 \u2014 the current deadline. This happened despite a letter that PM Boris Johnson was required by parliament to send to the EU requesting another delay.<\/p>\n<p>The PM\u2019s defeat on Saturday forced him to act according to a law passed by those opposing a no-deal Brexit, which demands him requesting a delay until January 31. Johnson has sent the letter to the EU as required, but he also sent another signed letter pleading against the delay, which he considers corrosive.<\/p>\n<p>Michael Gove, the minister who leads no-deal Brexit preparations, <a href=\"https:\/\/www.reuters.com\/article\/us-britain-eu\/brexit-will-happen-on-october-31-despite-pms-unsigned-delay-request-uk-says-idUSKBN1WY0Q6\">told<\/a> Sky News that the UK would still leave the EU on October 31:<\/p>\n<p><em>\u201cWe are going to leave by October 31. We have the means and the ability to do so. [\u2026] That letter was sent because parliament required it to be sent&#8230; but parliament can&#8217;t change the prime minister&#8217;s mind, parliament can&#8217;t change the government&#8217;s policy or determination.\u201d<\/em><\/p>\n<p>This week is crucial for the UK, but the British pound might stay strong amid reduced concerns over a no-deal Brexit, which is still the least probable scenario.<\/p>\n<p><strong>NZ\u2019s Credit Card Spending Falls Short of Expectations<\/strong><\/p>\n<p>In New Zealand, the RBNZ said that growth of Credit Card Spending slowed last month to 4.8% year-on-year after 6% in August, while analysts expected the indicator to increase to 5.1%.<\/p>\n<p>The reading might put pressure on the country\u2019s central bank, which is currently expected to cut the interest rate once again by the end of the year.<\/p>\n<p>&#8212;&#8212;<\/p>\n<h6><em>Currencylive.com is a site operated by TransferWise Inc. (&#8220;We&#8221;, &#8220;Us&#8221;), a Delaware Corporation. We do not guarantee that the website will operate in an uninterrupted or error-free manner or is free of viruses or other harmful components. The content on our site is provided for general information only and is not intended as an exhaustive treatment of its subject.  We expressly disclaim any contractual or fiduciary relationship with you on the basis of the content of our site, any you may not rely thereon for any purpose.  You should consult with qualified professionals or specialists before taking, or refraining from, any action on the basis of the content on our site. Although we make reasonable efforts to update the information on our site, we make no representations, warranties or guarantees, whether express or implied, that the content on our site is accurate, complete or up to date, and DISCLAIM ANY IMPLIED WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE. Some of the content posted on this site has been commissioned by Us, but is the work of independent contractors. These contractors are not employees, workers, agents or partners of TransferWise and they do not hold themselves out as one. The information and content posted by these independent contractors have not been verified or approved by Us. The views expressed by these independent contractors on currencylive.com do not represent our views.<\/em><\/h6>\n","protected":false},"excerpt":{"rendered":"<p>GBP\/NZD is moving in a bearish channel that started to form on Thursday. Reserve Bank of New Zealand (RBNZ) has published consumer spending data yesterday but the market is mainly driven by the latest Brexit events. The pair has declined by half of a percentage point during the Asian trading session, currently trading at 2.0168 [&hellip;]<\/p>\n","protected":false},"author":163946598,"featured_media":47011,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1379,1659],"tags":[1677,1386,1394,1649,1676],"class_list":{"0":"post-47103","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-gbp","8":"category-nzd","9":"tag-asian-trading-session","10":"tag-brexit","11":"tag-gbp","12":"tag-nzd","13":"tag-reserve-bank-of-new-zealand"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>GBP\/NZD Forms Bearish Channel Amid Ongoing Brexit Uncertainty - Currency Live<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/currencylive.com\/news\/101274-gbp-nzd-pair-forms-bearish-channel-amid-ongoing-brexit-uncertainty\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Ileana Ionescu\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101274-gbp-nzd-pair-forms-bearish-channel-amid-ongoing-brexit-uncertainty\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101274-gbp-nzd-pair-forms-bearish-channel-amid-ongoing-brexit-uncertainty\\\/\"},\"author\":{\"name\":\"Ileana Ionescu\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/3d5cb0a6a22d357fc0b9ad562f35e75b\"},\"headline\":\"GBP\\\/NZD Forms Bearish Channel Amid Ongoing Brexit Uncertainty\",\"datePublished\":\"2019-10-21T10:00:10+00:00\",\"dateModified\":\"2019-10-21T12:38:53+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101274-gbp-nzd-pair-forms-bearish-channel-amid-ongoing-brexit-uncertainty\\\/\"},\"wordCount\":610,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101274-gbp-nzd-pair-forms-bearish-channel-amid-ongoing-brexit-uncertainty\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/10\\\/nzd-gbp-1.jpg\",\"keywords\":[\"Asian trading session\",\"Brexit\",\"gbp\",\"nzd\",\"Reserve Bank of New Zealand\"],\"articleSection\":[\"GBP\",\"NZD\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2019\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101274-gbp-nzd-pair-forms-bearish-channel-amid-ongoing-brexit-uncertainty\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101274-gbp-nzd-pair-forms-bearish-channel-amid-ongoing-brexit-uncertainty\\\/\",\"name\":\"GBP\\\/NZD Forms Bearish Channel Amid Ongoing Brexit Uncertainty - 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