GBPNZD: Sideways opportunity for the next 5 months.
GBPNZD followed the direction set on our November call and pull back to the symmetrical (black dashed line) support:
As mentioned then, this is repeating the late 2017/ early 2018 pattern. Since the uptrend was rejected on the 2.04750 1M Resistance and the price pulled back, with 1D turning neutral (RSI = 55.295, ADX = 26.734, Highs/Lows = 0.0000), we are expecting sideways price action for the next 5 months within the 1M Resistance (2.04750) and the MA200 (orange line) on the 1D chart.
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As mentioned then, this is repeating the late 2017/ early 2018 pattern. Since the uptrend was rejected on the 2.04750 1M Resistance and the price pulled back, with 1D turning neutral (RSI = 55.295, ADX = 26.734, Highs/Lows = 0.0000), we are expecting sideways price action for the next 5 months within the 1M Resistance (2.04750) and the MA200 (orange line) on the 1D chart.
** If you like our free content follow our profile (tradingview.com/u/InvestingScope) to get more daily ideas. **
Comments and likes are greatly appreciated.
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investingscope.com
Over 65% accuracy on Private Signals Channel.
Over 15% return monthly on our Account Management Plan.
Account RECOVERY services.
Free Channel: t.me/investingscopeofficial
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