GBP/NZD chart on Trading View used for analysis
- GBP/NZD extends sideways grind, trades rangebound on the day at 1.8869 at 0525 GMT.
- The pair has bounced off lows with a hammer formation and price action has broken into daily cloud.
- The pair trades with a bearish bias and recovery attempts capped at 55-EMA.
- We also evidence a bearish divergence on RSI and Stochs which adds to the bearish bias.
- Breakout above 55-EMA could see some upside. Scope for test of 200-DMA at 1.9307.
- Resumption of weakness could see dip till 1.81252 (Dec 12 low).
- Price action has been rejected at daily cloud, dip till lower Bollinger Band at 1.8435 likely.
Support levels - 1.8677 (4H 200 SMA), 1.8625 (Nov 16 low), 1.8435 (Lower BB)
Resistance levels - 1.8792 (21-EMA), 1.8833 (5-DMA), 1.8927 (55-EMA)
For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.


FxWirePro: USD/ZAR gains as stronger dollar outweighs upbeat South Africa's trade surplus
US Magnificent 7 Stocks Trend Score: Amazon & Microsoft Hit Extreme Bullish (+100) as Meta Drops to -100 — Key Resistance & Support Watchlist
NZDJPY Bears Stay in Command: Sell Rallies at 92.72-75 Targeting 90 as All EMAs Flash Red
FxWirePro- Major Pair levels and bias summary
FxWirePro: GBP/AUD drifts lower after BOE rate decision
FxWirePro: USD/CNY downtrend loses steam, remains on bearish path
FxWirePro: GBP/NZD remains weak, eyes 38.2%fib support
US Magnificent 7 Stocks Trend Score: Amazon & Microsoft Hit Extreme Bullish (+100) as Meta Drops to -100 — Key Resistance & Support Watchlist
FxWirePro: AUD/USD gains some ground but outlook is bearish
FxWirePro:USD/JPY climbs back above 160.00 after BOJ rate decision
FxWirePro: USD/CNY dips to hit three year low,scope for further downside
All Major JPY Pairs Hit Extreme Bearish Score of -100: USDJPY, EURJPY, GBPJPY, AUDJPY, NZDJPY & CADJPY Flash Maximum Weakness
FxWirePro: USD/CAD retreats after Canada posts stronger-than-expected GDP growth
FxWirePro: USD/JPY dips as market assess risk of additional FX intervention.
FxWirePro- Major Crypto levels and bias summary
JPY Currency Meter Signals: NZDJPY Bullish (+25) vs CHFJPY (-100) – These Pairs Could Move Next
AUDJPY Bears Tighten Grip: Sell Rallies at 110.65-67 Targeting 107.75 as All EMAs Stay Red 



