Hi, today we are going to talk about GBP/NZD
We observe a 15M AND H4, some important points. The details are highlighted above.
Thank you for reading and leave your comments if you like.
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4H CHART EXPLANATION:
We observe that price left a clear rejection to the Confluence Zone explained on the Daily timeframe. Now, it is consolidating on a rectangle, so, we are waiting for a breakout of this figure. The first target of the movement is the Support Zone (previous resistance Zone) at 2.000. If this zone is penetrated, then price has potential to...
GBPNZD reversed off its resistance at 2.03165 where it could potentially drop further to 1.99262.
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I think this is a great short move on GBPNZD with either a BREXIT Deal or No Deal. There might be a rapid spike up due to the volatility of GBP but this is a great setup for shorts.
The price was currently at the highest it has been since 2016. It already touched a few times the resistance and it keeps going down. higher probabilities that it would go to 2.0000 and then start going up again or maybe fell way more. RISK 2:1.
daily shows a double top which has already been going down , there is more room for it to go down so there will be a possible sell coming up just watch for the wicks to know direction.
GBP seems to be rather indecisive at the moment, but opportunity nevertheless exists to secure a decent number of pips. This particular pair is currently nearing a 3rd touch of support, as drawn here. It will either bounce hard again to the upside or fall to the nearest lower key level, which I see as 2.00173(ish).
Look to long if price hits said support and...
The British Pound vs. the New Zealand Dollar cross is one of the most volatile one among GBP pairs. The New Zealand Dollar is often viewed as a proxy for Chinese growth and thus have performed well against the Euro in recent years. But on the hand, the British Pound is one of the premier reserve currencies and represents the world's largest financial center.
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