FxWirePro: GBP/NZD Trade Idea

FxWirePro's Currency Strength Index: Bias for GBP/NZD - Bearish

FxWirePro's GBP hourly Strength Index: -130.007 (Bearish)

FxWirePro's NZD hourly Strength Index: 124.796 (Bullish)

Technical Analysis: Bias Bearish

- RSI and Stochs biased lower

- Bearish divergence seen on RSI and Stochs

- MACD shows bearish crossover on signal line

- Price action breaks below 20-DMA at 1.8853

Support levels - 1.8631 (38.2% Fib retrace of 1.7337 to 1.9431 rally), 1.8529 (50-DMA), 1.8346 (Oct 17 low)

Resistance levels - 1.8854 (20-DMA), 1.8937 (23.6% Fib), 1.9113 (5-DMA),

Recommendation: Good to go short on close below 20-DMA at 1.8854, SL: 1.8940, TP: 1.87/ 1.8630/ 1.8530

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