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Weekly forecast British Pound / New Zealand Dollar technical chart
Symbol GBPNZD

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Trading suggestion:

  • By appearing primary signs of entering the market, new entry zone and short-term targets would be published.

DateMay 9, 2020 - 21:05
Currentrange bound
Forecastbeginning of downtrend

Midterm forecast:

  • While the price is below the resistance 2.10350, beginning of downtrend is expected.
  • We make sure when the support at 1.98900 breaks.
  • If the resistance at 2.10350 is broken, the short-term forecast -beginning of downtrend- will be invalid.

Technical analysis:

  • A peak is formed in daily chart at 2.0710 on 05/04/2020, so more losses to support(s) 2.0120 and minimum to Major Support (1.9890) is expected.
  • Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
  • Relative strength index (RSI) is 38.

Supports and Resistances:

  1. 2.5870
  2. 2.4625
  3. 2.3645
  4. 2.2525
  5. 2.2000
  6. 2.1035
  7. 2.0120
  8. 1.9890
  9. 1.9690
  10. 1.9435
  11. 1.9030
  12. 1.8705
  13. 1.8120
Click on the level to view price action history.