Important Information

This website is managed by Ultima Markets’ international entities, and it’s important to emphasise that they are not subject to regulation by the FCA in the UK. Therefore, you must understand that you will not have the FCA’s protection when investing through this website – for example:

You will not be guaranteed Negative Balance Protection
You will not be protected by FCA’s leverage restrictions
You will not have the right to settle disputes via the Financial Ombudsman Service (FOS)
You will not be protected by Financial Services Compensation Scheme (FSCS)
Any monies deposited will not be afforded the protection required under the FCA Client Assets Sourcebook. The level of protection for your funds will be determined by the regulations of the relevant local regulator.

Note: Ultima Markets is currently developing a dedicated website for UK clients and expects to onboard UK clients under FCA regulations in 2026.

If you would like to proceed and visit this website, you acknowledge and confirm the following:

1.The website is owned by Ultima Markets’ international entities and not by Ultima Markets UK Ltd, which is regulated by the FCA.
2.Ultima Markets Limited, or any of the Ultima Markets international entities, are neither based in the UK nor licensed by the FCA.
3.You are accessing the website at your own initiative and have not been solicited by Ultima Markets Limited in any way.
4.Investing through this website does not grant you the protections provided by the FCA.
5.Should you choose to invest through this website or with any of the international Ultima Markets entities, you will be subject to the rules and regulations of the relevant international regulatory authorities, not the FCA.

Ultima Markets wants to make it clear that we are duly licensed and authorised to offer the services and financial derivative products listed on our website. Individuals accessing this website and registering a trading account do so entirely of their own volition and without prior solicitation.

By confirming your decision to proceed with entering the website, you hereby affirm that this decision was solely initiated by you, and no solicitation has been made by any Ultima Markets entity.

I confirm my intention to proceed and enter this website

Focus on GBP/NZD Today – 4th October 2023

UM Editor

October 4, 2023 at 1:10 pm

Comprehensive GBP/NZD Analysis for October 4, 2023

In this comprehensive analysis, Ultima Markets brings you an insightful breakdown of GBP/NZD for 4th October 2023.

Key Insight: RBNZ Interest Rate Decision and Economic Outlook

RBNZ Decision: The Reserve Bank of New Zealand (RBNZ) has opted to maintain the interest rate at 5.50%.
Consistency: Notably, this marks the third consecutive time that the central bank has refrained from adjusting interest rates.
GDP Growth: Despite a stronger-than-expected GDP growth in the June quarter, the overall growth outlook remains subdued.
Global Economic Risks: The RBNZ Committee has expressed concerns about downside risks to the global economic growth outlook in the medium term.
Short-Term Currency Trends: In the short term, the New Zealand dollar may face a depreciation trend.

Technical Analysis: A Closer Look on GBP/NZD Trading Charts

GBP/NZD Daily Chart Insights

Reversal Structure: The daily chart illustrates a clear reversal structure, with the 240-day moving average acting as a significant resistance point.

( Daily chart of GBP/NZD, source: Ultima Markets MT4)

The stochastic oscillator technical indicator has also left the oversold area after being oversold for nearly 9 trading days. The market may continue to rebound and rise today.

GBP/NZD 4-Hour Chart Observations

Motive Wave: A five-wave upward structure has emerged since the end of September, signaling a potential motive wave.
Moving Average Test: The market has surged rapidly and is nearing the 65-period moving average, a level to monitor for potential breakout.

(4-hour chart of GBP/NZD, source: Ultima Markets MT4)

Pivot Indicator

(1-hour chart of GBP/NZD, source: Ultima Markets MT4)

Central Price: According to Ultima Markets MT4 pivot indicator, the central price for the day stands at 2.04099.

Bullish Outlook: A price movement above 2.04099 could trigger an upward momentum, targeting 2.05336 as the first level of resistance and 2.06164 as the second.
Bearish Outlook: A dip below 2.04099 may indicate a bearish trend, with the first support level at 2.03301 and the second at 2.02075.

Legal Documents

Ultima Markets, a trading name of Ultima Markets Ltd, is authorized and regulated by the Financial Services Commission “FSC” of Mauritius as an Investment Dealer (Full-Service Dealer, excluding Underwriting) (license No. GB 23201593). The registered office address: 2nd Floor, The Catalyst, 40 Silicon Avenue, Ebene Cybercity, 72201, Mauritius.

Disclaimer

Comments, news, research, analysis, price, and all information contained in the article only serve as general information for readers and do not suggest any advice. Ultima Markets has taken reasonable measures to provide up-to-date information, but cannot guarantee accuracy, and may modify without notice. Ultima Markets will not be responsible for any loss incurred due to the application of the information provided. 

Why Trade Metals & Commodities with Ultima Markets?

Ultima Markets provides the foremost competitive cost and exchange environment for prevalent commodities worldwide.

Start Trading

Monitoring the market on the go
Markets are susceptible to changes in supply and demand
Attractive to investors only interested in price speculation
Deep and diverse liquidity with no hidden fees
No dealing desk and no requotes
Fast execution via Equinix NY4 server

Join the ultimate trading ecosystem

See all Markets Quick Start

Market

Platform

Account

Resources

About

Ultima Markets is a member of The Financial Commission, an international independent body responsible for resolving disputes in the Forex and CFD markets.

All clients of Ultima Markets are protected under insurance coverage provided by Willis Towers Watson (WTW), a global insurance brokerage established in 1828, with claims eligibility up to US$1,000,000 per account.

Ultima Markets is the first CFD broker to be part of United Nations Global Compact.

TRADE WITH US

RISK DISCLOSURE

Risk Warning:
Trading leveraged financial products, including Contracts for Difference (CFDs), carries a high level of risk and may result in losses exceeding your initial investment. These products are not suitable for all investors and should only be traded with funds you can afford to lose. You do not own or have any rights to the underlying assets of these derivatives (e.g., entitlement to dividends). Please ensure you fully understand the associated risks. Before trading, consider your level of experience, investment objectives, and seek independent financial advice if necessary. Refer to our legal documents and disclosures before making any trading decisions.

General Advice Warning:
The information provided on this website is general in nature and does not take into account your personal objectives, financial situation, or needs. Before acting on any advice, you should assess its appropriateness in light of your individual circumstances and consult our legal documentation.

Regional Restrictions:
The information and services on this website are not intended for residents of certain jurisdictions, including but not limited to the United States, Singapore, and any jurisdictions subject to international sanctions. For further information, please contact our customer support team.

Regulatory Information:

Ultima Markets is a trading name shared amongst multiple entities operating in various jurisdictions. These following entities are authorised to operate under the Ultima Markets brand and trademarks.

Ultima Markets UK Limited, reference number 470325, is authorised and regulated by the Financial Conduct Authority (FCA). Registered address: 1 Blossom Yard, Fourth Floor, London, E1 6RS, UNITED KINGDOM.
Ultima Markets Ltd is authorised and regulated by the Financial Services Commission (FSC) of Mauritius as a Full-Service Investment Dealer (excluding Underwriting), under licence number GB 23201593.

Registered address: 2nd Floor, The Catalyst, 40 Silicon Avenue, Ebene Cybercity, 72201, Mauritius.

Messenger

Continue on Messenger

Take the conversation to your Messenger account. You can return anytime.

Scan the QR code and then send the message that appears in your Messenger.

Open Messenger on this device.
Instagram

Continue on Instagram

Take the conversation to your Instagram account. You can return anytime.

Scan the QR code to open Instagram. Follow @ultima_markets to send a DM.

Open Instagram on this device.
Live Chat