GBPNZD retesting a key previous resistance level on the daily timeframe.
A closer look at the 4H shows the price at a key Fibonacci level (61.8%).
I belive we could see prince retest this level (1.9465) and continue bullish momentum.
Fundamentals:
- GBP is strong and over the past two weeks we have seen a slowdown in NZD bulls, which many push GBPNZD higher.
- The UK has had a solid economic recovery and easing of lockdown measures is expected to continue; boosting the economy.
- Vaccine rollout in the UK continues to push along at an excellent rate.
- All of these fundamentals will like push GBP pairs higher.
Technicals:
- retest of previous resistance
- 61.8% Fibonacci level
- support on trendline and following the trend
- confluence among the technical indicators
A closer look at the 4H shows the price at a key Fibonacci level (61.8%).
I belive we could see prince retest this level (1.9465) and continue bullish momentum.
Fundamentals:
- GBP is strong and over the past two weeks we have seen a slowdown in NZD bulls, which many push GBPNZD higher.
- The UK has had a solid economic recovery and easing of lockdown measures is expected to continue; boosting the economy.
- Vaccine rollout in the UK continues to push along at an excellent rate.
- All of these fundamentals will like push GBP pairs higher.
Technicals:
- retest of previous resistance
- 61.8% Fibonacci level
- support on trendline and following the trend
- confluence among the technical indicators