Ichimoku Analysis (Weekly chart)}
Tenken-Sen- 2.033
Kijun-Sen- 2.059
GBPNZD continues to trade weak for the past 8 weeks and lost more than 6.8% on the strong New Zealand dollar. The demand for commodity rose on easing of lockdown and hopes of the COVID-19 vaccine. It hits a low of 1.94186 and shown a minor jump. It is currently trading around 1.94640.
On the flip side, near-term support is around 1.9400 and any weekly close below confirms major weakness, dip till 1.9320/1.9150.
The immediate resistance is around 1.9500, indicative violation above will take the pair to next level 1.9560/1.9600.
It is good to sell on rallies around 1.9500 with SL around 1.9500 for the TP of 1.915/1.9000.
