Thursday, October 15, 2026

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FxWirePro: GBP/NZD consolidating bounce off channel base, strong resistance upto 2.1120

GBP/NZD has bounced off from 2.0625 levels (levels last seen in May 2015), taken channel base support and edged higher. We see the pair consolidating after the bounce-off from multi-month lows, with major resistance upto…

By Jay L. Zagorsky
1 min read
FxWirePro: GBP/NZD consolidating bounce off channel base, strong resistance upto 2.1120
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GBP/NZD has bounced off from 2.0625 levels (levels last seen in May 2015), taken channel base support and edged higher.

  • We see the pair consolidating after the bounce-off from multi-month lows, with major resistance upto 1.1120 levels.
     
  • The pair is extending range trade for the 4th consecutive day, day's range 2.1147-2.1022.
     
  • Stochs and RSI on daily charts have rolled over from oversold levels and the MACD line is on the verge of a bullish crossover on signal line.
     
  • Advise waiting for further confirmation to initiate longs, remain on sidelines for now.

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By FxWirePro Team