Ransquawk

GBPNZD on the daily chart broke over a week ago an upward trend line running from the bottom of August this year. After this move set a low around 1.8965, after which a correction began, which continues to this day. Currently, quotes may go to local resistance, where the low from the first week of December coincides with the 20-day SMA and the 50% abolition of Fibo. Bearish price action signal in these areas may herald a return to declines.The nearest support in the case of the above scenario can be found in the zone between 1.87 – 1.88. In turn, after defeating it, the way to dips towards 1.79 would open.

GBPNZD Daily

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