Forex

GBP / NZD Worth Evaluation: Bulls are searching for a retracement from key help

  • GBP / NZD has fallen into an important area of ​​support where bulls are lurking.
  • Bulls will focus on the previous support structure.

GBP / NZD is stagnant on support and the focus is on the upside to test the previous support structure and the coincidence of a 50% mean reversion.

The following illustrates a bullish trend.

Daily chart

Bulls must hold 1.9660 / 70 support at this point.

Hourly chart

From a lower timeframe such as the 1 hour chart, an interim resistance at 1.9730, marked by the recent high and the confluence of the 21st EMA, must give way for a firm correction to take place.

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