GBPNZD has previously bounced strongly from the Daily support zone of +1.9000
Hourly resistance from 1.9400 has proven strong as bears are beginning to show off their Lower Highs on the 1 Hour Timeframe.
Previous 1hr High was at 1.9244, This causing some solid consolidation moves into a range bound zone with price continuously being rejected at the 1.9200 zone.
Classic pattern on descending triangle formation on 1hr could see GBPNZD breaking towards the downside and headed straight for the Daily Support zone of 1.9000
Hourly resistance from 1.9400 has proven strong as bears are beginning to show off their Lower Highs on the 1 Hour Timeframe.
Previous 1hr High was at 1.9244, This causing some solid consolidation moves into a range bound zone with price continuously being rejected at the 1.9200 zone.
Classic pattern on descending triangle formation on 1hr could see GBPNZD breaking towards the downside and headed straight for the Daily Support zone of 1.9000