Technical Analysis update
As per your request, here's how I see the $GBPNZD situation right now.
2.0-2.01 is a very strong daily support zone - Could lead to a pullback to the 2.04 zone (maybe even 2.05)
Judging by the strength of the recent sell off, the price could attempt to breakdown this zone, if it will manage to do so, it can drop all the way down to 1.94 (longer term bearish target) to complete a daily bullish Bat.
Overall, my longer term analysis suggests $GBPNZD should reached higher levels and I'm looking for places to buy it again.
Will cover $GBPNZD in the next Weekly Markets Analysis - Subscribe and stay tuned
www.themarketzone.net/
2.0-2.01 is a very strong daily support zone - Could lead to a pullback to the 2.04 zone (maybe even 2.05)
Judging by the strength of the recent sell off, the price could attempt to breakdown this zone, if it will manage to do so, it can drop all the way down to 1.94 (longer term bearish target) to complete a daily bullish Bat.
Overall, my longer term analysis suggests $GBPNZD should reached higher levels and I'm looking for places to buy it again.
Will cover $GBPNZD in the next Weekly Markets Analysis - Subscribe and stay tuned
www.themarketzone.net/