GBPNZD key resistance 1.91 holding so far...
Previously mentioned the 1.91 level as a breakout confirmation level (weekly closing basis) and seems to be holding so far despite repeated bullish reversal attempts.
This pair is a thick market (i.e. lotsa overlaps between candles/bars) and anyone trading this needs to be (mentally) prepared for it. That said, we will not want to see that 1.91 level tested again as that would indicate we may be in a trading range rather than a bear trend. If you were not shaken out by that pullback and held on to the breakout premise, you may see the price lower soon.
But we are not out of the woods yet and need that bearish follow through. First target for this is breakout is 1.83 but I do see at least one support level that we need to watch out for.
This pair is a thick market (i.e. lotsa overlaps between candles/bars) and anyone trading this needs to be (mentally) prepared for it. That said, we will not want to see that 1.91 level tested again as that would indicate we may be in a trading range rather than a bear trend. If you were not shaken out by that pullback and held on to the breakout premise, you may see the price lower soon.
But we are not out of the woods yet and need that bearish follow through. First target for this is breakout is 1.83 but I do see at least one support level that we need to watch out for.
Kommentar:
I think we have our follow through... :)
