GBPNZD WEEKLY SCENARIO – 25 February 2022

forex technical analysis

GBPNZD Technical Analysis: Weekly Chart

GBPNZD WEEKLY SCENARIO

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

It is trading above all SMA.

The immediate support is 1.9844 & the resistance level is at 2.0060.

GBPNZD was trading in the up channel after breakout downside might be seen.

GBPNZD Technical Analysis: Daily Chart

GBPNZD WEEKLY SCENARIO

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

It is trading below 20 and 50 days SMA & above 100 days SMA.

The immediate support is 1.9777 & the resistance level is 1.9982.

GBPNZD is trading in the down-channel until there is a 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 1.9934, TAKE PROFIT AT 1.9777 AND STOP LOSS AT 1.9982

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