Technicals

Add as a preferred source on Google

FxWirePro: GBP/NZD stuck in range but maintains bullish bias

• GBP/NZD initially dipped on Wednesday but recovered some of the ground as buying demand continued near 2.1250 level. • The pair failed to break support at 2.1255 and pulled back towards 2.1300. • Technical signals are …

1 min read
FxWirePro: GBP/NZD stuck in range but maintains bullish bias
Image from the original EconoTimes article

Read the original article

• GBP/NZD  initially dipped on Wednesday  but   recovered some  of the ground as buying demand continued near 2.1250 level.

• The pair failed to break support  at 2.1255 and pulled  back  towards 2.1300.

• Technical signals are bullishas RSI is at 56, daily momentum studies  5,9,21 DMA are trending north. 

• Immediate resistance is located at 2.1317  (5DMA ), any close above will push the pair towards 1.21436  (23.6%fib).

• Strong support is seen at 2.1250 (38.2%fib) and break below could take the pair towards 2.1134 (Sep 1st low).

Recommendation: Good to buy around 2.1280 with stop loss of 2.1180  and target price of 2.1370
 

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