It could be said, however, that market sentiment favors the downside after seeing a recent rejection from the resistance area. Market participants now target the next support or resistance depending on the direction of the breakout.
If it breaks to the upside we could see price climb to first bull target at 1.8280. On the other hand, a break below the support could spark the bear momentum and drive the price to first bearish target at 1.7155.
Chart: GBP/NZD D1
No clear directional strength showing at the moment.
ReplyDeleteSideways consolidation continues for now.
ReplyDeleteLooks like it made a double bottom.
ReplyDeleteThe pair is undecided.
ReplyDeleteVery helpful and insightful analysis, excellent.
ReplyDeleteGreat daily note as always, thank you!
ReplyDeleteGood post. Very helpful.
ReplyDeleteVery useful information! Thanks.
ReplyDelete