GBPNZD has reached to the bottom of the rising channel and is under bullish pressure from the divergence created between the price and MACD.
Fibo retracement of 50 & 61.8 coincides with the previous structural support now can be seen as resistance.
Price can bounce up to the zone of 1.98 - 2.00 and then turn bearish for the future continuation.
GOOD LUCK FOR YOUR...
Breakout occurred followed by a re-test of the support as resistance.
I am shorting @market price 1.87689 with
my stop placed above the resistance level at 1.88672 and
my take profit provisionally @ 1.84539 just above the support when using the swing low on the left marked with a yellow bar
Don't bet the farm and always exeercise healthy risk management.
This...
Hello Traders,
It’s no doubt that the GBP has been on the upper edge for the better part of last year. Well, in my view, it might continue with its trajectory especially if there is an interest rate hike in the future. However, when we take a purely technical view, we expect GBP to lose ground and correct in the coming days.
A top down approach can provide a...
Room to buy GBP at 1.9270, stops at 1.9170 and immediate targets at 1.97 or so. Chances of GBPNZD continuing with its initial buy run is high. I remain net bullish on GBP.
