The primary trend of GBP/NZD is bullish
on charts. In its 4 hourly chart, the pair is not sustaining at higher levels and consolidating with strong negative bias to give break out at downside. Its 30 DMA is also supporting the upcoming bearish trend
in the pair. It is having an important support at the level of 2.3680. If it breaks its support level
and sustains below it then we can expect it to show further bearish
movement in the pair.
INDICATORS:-MACD is sustaining in selling territory indicating the upcoming bearish trend
in the pair.
is looking bearish
on charts for next few trading session. One can go for sell on higher level strategy for this pair for intra day to mid term positions.