GBP/NZD TECHNICAL ANALYSIS & FOREX FORECAST

forex technical analysis

GBPNZD Technical Analysis: Weekly Chart

forex technical analysis

In the weekly charts, GBPNZD was trading in an up channel.

It is trading below all SMA.

The immediate support is 1.8741 & the resistance level is at 1.9052.

GBPNZD was trading in the up channel before the breakout downside.

GBPNZD Technical Analysis: Daily Chart

forex technical analysis

In the daily charts, GBPNZD is trading in a down channel.

It is trading below all SMA.

The immediate support is 1.8845 & the resistance level is 1.8994.

GBPNZD is trading in the down channel until there is trend reversal . 

How to Trade GBPNZD this Week:

GBPNZD will follow the downtrend until their trend reversal. So, remain bearish on GBPNZD.

TRADE SUGGESTION- SELL AT 1.8893, TAKE PROFIT AT 1.8845 AND STOP LOSS AT 1.8994

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