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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.

DateJuly 4, 2020 - 22:09
Currentdowntrend
Forecastcontinuation of downtrend

Midterm forecast:

  • 1.96350 is a major resistance, while this level is not broken, the Midterm wave will be downtrend.

Technical analysis:

  • While the RSI downtrend #1 is not broken, bearish wave in price would continue.
  • A peak is formed in daily chart at 1.9465 on 06/24/2020, so more losses to support(s) 1.9030, 1.8705, 1.8275 and more depths 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 31.

Supports and Resistances:

  1. 2.5870
  2. 2.4625
  3. 2.3645
  4. 2.2525
  5. 2.2000
  6. 2.1035
  7. 1.9370
  8. 1.9030
  9. 1.8705
  10. 1.8120
Click on the level to view price action history.