Technicals

Add as a preferred source on Google

FxWirePro: GBP/NZD getting back on track for run towards 1.2000

• GBP/NZD strengthened on Tuesday as kiwi dollar weakened ahead of New Zealand's central bank meeting on Wednesday. • The Reserve Bank of New Zealand is not expected to change policy or publish forecasts, but a guidance …

1 min read
FxWirePro: GBP/NZD getting back on track for run towards 1.2000
Image from the original EconoTimes article

Read the original article

• GBP/NZD strengthened on Tuesday as kiwi dollar weakened ahead of New Zealand's central bank meeting on Wednesday.

• The Reserve Bank of New Zealand is not expected to change policy or publish forecasts, but a guidance tweak is possible.

• GBP/NZD remains bullish , only a close back below  1.9823 , could upset the bullish order.

• Immediate resistance is located at 1.9932 (23.6% fib), any close above will push the pair towards 1.9959 (higher BB).

• Strong support is seen at 1.9823 (38.2% fib) and break below could take the pair towards 1.9759(11 DMA).

Recommendation: Good to buy  around 1.9900, with stop loss of 1.9830 and target price of 1.9980
 

Related articles

View all
Technicals

Major Pair Currency Score: AUDUSD Bearish

EURUSD - Levels to watch - 1.100 GBPUSD Levels to watch - 1.3180 USDCHF Levels to watch - 0.8400 USDCAD - Levels to watch - 1.4300 AUDUSD - Levels to watch - 0.7000 NZDUSD - Levels to watch - 0.5560