GBPNZD: Break of Horizontal Support OR Magnetic Resistance.
Hello traders,
GBPNZD stucks in an invisible consolidation. In a 4hr time scale, @ 1.9843 the pair marked a downward impulse and pulled the price range down. GBPNZD sustained trading beneath 1.9750, the 1.9675 previous supports.
Now, the same points became resistance for the price range. Signals have a brighter chance for the price drop to 1.9520 support zone. The 1.9450 could be the challenging zone for the further drop. In case, the pair excelled the zone 1.9450-1.94400, the 1.9320, 1.9250, 1.91850 and the 1.90650 are the next highlighting points in the bear area.
On the other hand, the pair should break the 1.9750, the 1.9675 to prove its strength towards uptrend. Afterwards, the 1.9860, the 1.9000 are the aiming resistance for the price range. In this case, the market gravity could pull the price range to psychological whole number zones 2.00000-2.0030.
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GBPNZD stucks in an invisible consolidation. In a 4hr time scale, @ 1.9843 the pair marked a downward impulse and pulled the price range down. GBPNZD sustained trading beneath 1.9750, the 1.9675 previous supports.
Now, the same points became resistance for the price range. Signals have a brighter chance for the price drop to 1.9520 support zone. The 1.9450 could be the challenging zone for the further drop. In case, the pair excelled the zone 1.9450-1.94400, the 1.9320, 1.9250, 1.91850 and the 1.90650 are the next highlighting points in the bear area.
On the other hand, the pair should break the 1.9750, the 1.9675 to prove its strength towards uptrend. Afterwards, the 1.9860, the 1.9000 are the aiming resistance for the price range. In this case, the market gravity could pull the price range to psychological whole number zones 2.00000-2.0030.
Hit like, comment and follow for more chart updates.
