Technicals

Add as a preferred source on Google

FxWirePro:GBP/ NZD drifts lower, could be on verge of a bigger drop

• GBP/NZD dipped on Friday as risk sentiment flowed back into the market benefiting kiwi dollar. • US data to takes center stage next week with ISM PMIs and Non-farm payrolls in focus. • The is pair heading towards the 5…

1 min read
FxWirePro:GBP/ NZD drifts lower, could be on verge of a bigger drop
Image from the original EconoTimes article

Read the original article

• GBP/NZD dipped on Friday  as risk sentiment flowed back into the market benefiting kiwi dollar.

• US data to takes center stage next week with ISM PMIs and Non-farm payrolls in focus.

• The is pair heading towards the 50%fib, as near term direction of the pair is likely to be driven by current price action.  

• Immediate resistance is located at 2.0810 (Daily high ), any close above will push the pair towards 2.0878 (Higher BB).

• Strong support is seen at 2.0666 (50%fib) and break below could take the pair towards 2.0618 (14DMA).

Recommendation: Good to sell on  around 2.0700, with stop loss of 2.0820 and target price of 2.0630

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