GBP/NZD is moving inside the 4-hour Triangle chart pattern identified by Autochartist – as you can see from the latest trade opportunity alert for this pair, shown below. GBP/NZD is expected to break the lower support trendline of this Triangle and to reach the target level 1.9109 in the next 2 trading days. Autochartist sets the stop-level for this forecast at the last connecting point of the opposite trendline of this Triangle – at 1.9388 (point B). This forecast is aligned with the preceding sharp downward price impulse from the strong resistance area (highlighted in green below) made out of the round resistance level 2.0000, the upper weekly Bollinger Band as well as the 50% Fibonacci Correction of the preceding weekly down-move from March of 2011. The top of this Triangle (point C) formed recently at the 50% Fibonacci Correction of this latest downward price impulse from 2.0000 (as you can see on the next chart below).
GBP/NZD" width="600" height="367">
The following daily GBP/NZD chart shows the aforementioned resistance price levels: 
GBP/NZD" width="600" height="711">
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Daily Forex Update: GBP/NZD
Published 07/24/2013, 06:39 AM
Updated 03/09/2019, 08:30 AM
Daily Forex Update: GBP/NZD
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