H1 - Strong bearish momentum.
Currently it looks like a pullback is happening.
No opposite signs.
Expecting the price to move lower further in the short term after pullbacks until the strong resistance zone holds.
1.9520 strong resistance broke on 22nd & 28th February but not able to sustain price higher and closed below 1.9520 that is indication as a fake breakout. 28th daily key reversal bar made a new high closed on the low indication for weakness for coming days. 1st March daily insurance bar confirms further weakness ahead. target is 1.8870.
9th & 18th January daily key reversal bars dictating strength ahead for several days even weeks as well. 1.9100-9060 demand zone for long, stop loss 1.8950, medium term target: 1.9490. longer term target: 1.9550.
18th August key reversal within the trend formed, made a new high closed on the low. 1.8950 initial support need to break for target 1.8810. better wait for retracement to short it.
#gbpnzd, 1st July daily key reversal bar indication for weakness ahead. 5th July daily insurance bar further confirmation for weakness in future. weekly chart did not breach high of last week since last three weeks. Resistance levels for short 1.9390, 1.9425 and last one 1.9480 for target 1.8860. stop loss above 1.9500.
#gbpnzd, weekly chart forming higher high and higher low, while friday bar is key reversal bar for short but 1.9370-25 strong demand zone for long. have a patience wait for 1.9370 & 1.9325 demand zone for long trade for target 1.9620. If breaks 1.9620 then next possible target 1.9740.
#gbpnzd, 1.9370-25 Demand zone for long target 1.9630. if price fails to hold 1.9370-25 Demand zone then next possible zone for long 1.9290 for long again.
professionals increasing gbp long positions since last few weeks, professionals increased 7% long positions by last four weeks, while reduced 3% shorts positions in nzd. split your position by dividing half risk each with following levels, 1.9180 and 1.9105 for target 1.9450.
