Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: GBP/ NZD gives back early gains ,bias back to downside

• GBP/NZD reversed course from early gains on Thursday  as overbought conditions encouraged selling 

• At GMT 10:07, the pair was trading down 0.38 percent  at 2.0084 after reaching daily high at 2.0235.

• GBP/NZD remains well below  (38.2%fib),Daily  close below 23.6%fib will   increase the scope for much bigger drop.

• Technical signals are bearish as RSI is heading down  at 32, daily momentum studies  5, 9 and 11 DMAs are trending down. 

•  Immediate resistance is located at 2.0235 (38.2%fib ), any close above will push the pair towards 2.0318 (Dec20th high).

• Strong support is seen at 2.0062 (23.6%fib) and break below could take the pair towards 2.0032(23.6%fib).

Recommendation: Good to sell on  around 2.0100 , with stop loss of 2.0200  and target price of 2.0000

  • Market Data
Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.