GBPNZD approaching support, potential bounce!
GBPNZD is approaching our first support at 1.9333 (horizontal swing low support, 61.8% Fibonacci extension, 23.6% Fibonacci retracement) where we might see a strong bounce above our support to our major resistance at 1.9568 (100% Fibonacci extension).
Stochastic (21,5,3) 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 (21,5,3) 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.
This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results
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