Technicals

Add as a preferred source on Google

FxWirePro:GBP/NZD falls on disappointing UK labor data, plunge to test a key fibo grows

• GBP/NZD slipped lower on Tuesday as the pair attracted sellers data after showed UK unemployment rate unexpectedly climbed. • According to the Office for National Statistics (ONS), the rate rose to 4.4% from February t…

1 min read
FxWirePro:GBP/NZD falls on disappointing UK labor data, plunge to test a key fibo grows
Image from the original EconoTimes article

Read the original article

• GBP/NZD slipped lower on Tuesday as the pair attracted sellers  data after  showed UK unemployment rate unexpectedly climbed.

• According to the Office for National Statistics (ONS), the rate rose to 4.4% from February to April this year, up from the previous figure of 4.3% and the highest since September 2021.

• At GMT 20:35, the pair was trading down 0.21 percent  at 2.0728 ,lowest since June 7th.

• Technical signals show the pair could lose more ground as RSI is   lower at 45, and 5 and 9 DMA’s are trending south.

• Immediate resistance is located at 2.0814( 38.2%fib), any close above will push the pair towards 2.0896 (50%fib).

• Immediate support is seen at 2.0716 (23.6%fib) and break below could take the pair towards 2.0624 (Lower BB).

Recommendation: Good to sell round 2.0740, with stop loss of 2.0850 and target price of 2.0660

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