GBPNZD: Supported on the 1D MA50. Trade these levels.

GBPNZD has turned sideways basically for a whole month (since June 28th) as it is restrained under R1 (2.092225) while being supported by the 1D MA50. This has turned the 1D timeframe neutral (RSI = 53.387, MACD = 0.005, ADX = 22.546), which is an expected technical outcome.

We will trade this setup on a breakout basis. A crossing over R1 is a buy signal targeting an aproximate +4.95% rise (TP = 2.15000). A crossing under the 1D MA100 and naturally the HL of the Rising Megaphone, is a sell signal targeting S1 and the 1D MA200 (TP = 1.98500).

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