GBPNZD approaching support, potential bounce!
GBPNZD is approaching our first support at 1.8746 (horizontal swing low support, 61.8% fibonacci extension, 38.2% fibonacci retracement, ascending channel’s support) where a strong bounce might occur pushing price up to our major resistance at 1.8977 (horizontal swing high resistance, 61.8% Fibonacci retracement).
Stochastic (89,5,3) is also approaching support where we might see a corresponding bounce in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Stochastic (89,5,3) is also approaching support where we might see a corresponding bounce in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
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