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GBP/NZD consolidates below 2.19 marks, intraday bias remains neutral

  • Pair is currently trading at 2.1732 levels. 

  • It made intraday high at 2.1808 and low at 2.1635 levels. 

  • Since the beginning of the year, pair is consolidating in between 2.23 to 2.15 marks. 

  • Intraday bias remains neutral for the moment. 

  • While looking at the intraday chart, pair is likely to fall further but downside is limited.

     
  • Key support falls at 2.1476 level and 2.0043 thereafter.

  • A daily close below 2.1550 is required to confirm the bearish bias.

  • On the top side key resistance level are seen at 2.1997 and 2.2312 marks.

Positioning is inconclusive at this point, with prices offering no clear cut signal to initiate a long or short trade. We will continue to remain on sidelines for the time being.

 

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