GBP/NZD – Week 32 – Watching the support area

In the last post for this pair (week 30) we correctly anticipated a move to the downside that would reach at least the blue trendline marked on the chart. For this week as we look at the 4h chart we give a higher probability for a move to the downside that would at least reach the support zone at 1.95500. After the move to the downside we must study the price structure to see if there will be a consolidation and continuation to the downside or a reversal to the upside. We advise caution.

Trade with care.

Best regards,
Financial Flagship

Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.