GBP/NZD Short term Outlook
GBP/NZD has retraced almost 100% from the low of 1.9304 and started to retreat from that level. Overall trend is weak as long as resistance 1.9500 holds.
On the downside minor support is around 1.9350 and any break below will drag the apir further down till 1.9300/1.9240 level.
The minor resistance are 1.9440/1.9511 (200 day HMA).
Indicator (1 hour chart)
CCI (50) – Sell
Woodies CCI (14) – Sell
Ichimoku- Sell
It is good to sell on rallies around 1.9430-35 with stop around 1.9515 for the targets of 1.9305/1.9250.
On the downside minor support is around 1.9350 and any break below will drag the apir further down till 1.9300/1.9240 level.
The minor resistance are 1.9440/1.9511 (200 day HMA).
Indicator (1 hour chart)
CCI (50) – Sell
Woodies CCI (14) – Sell
Ichimoku- Sell
It is good to sell on rallies around 1.9430-35 with stop around 1.9515 for the targets of 1.9305/1.9250.