GBPNZD - Range bound awaiting for confirmation
GBP has been relatively weak due from the brexit and economy outlook.
Currently trading a range of consolidation area June 2019 and August 2019.
This pair GBPNZD has been in the downtrend since April 2020 and hence it's still better to go with the trend rather than betting against the trend
- RSI MACD showing neutral
- Range bound in the channel
- D1 price got rejected from EMA20, one of the key thing to take note
- Triangle trendline broke but still in the range bound area
Awaiting for the confirmation, once range bound is broke, we can expect to fall to the next low support around 1.905 ~ 1.907 area.
Currently trading a range of consolidation area June 2019 and August 2019.
This pair GBPNZD has been in the downtrend since April 2020 and hence it's still better to go with the trend rather than betting against the trend
- RSI MACD showing neutral
- Range bound in the channel
- D1 price got rejected from EMA20, one of the key thing to take note
- Triangle trendline broke but still in the range bound area
Awaiting for the confirmation, once range bound is broke, we can expect to fall to the next low support around 1.905 ~ 1.907 area.