GBP/NZD Analysis - + Signal 4hr Chart / Daily —— Report " Pair May Up From Very Important Area that key level + week / Monthly Test level + 61 % Fibo Golden — we Expecting Up Movement To Target Higher level 300 PIP Range and Reason why Expecting Bullish Wolfe Wave False
Pair under a clear bearish momentum, currently in consolidation. Now from a D1 domain, MACD is signaling a mild bullish force for an expected correction in H1. Price correction should be towards the predominant descendent trendline in confluence with Fib level 5.0, where th
GBP/NZD had a nice run following the breakdown from a smaller ascending channel back in May. For the week ahead, keep an eye on how the pair reacts around the 1.9000 support area. Key resistance comes in at 1.9400. Over the long run, though, I do expect the bottom of this channel near 1.9000 to fail and expose the next key support at 1.8300.
Price is in a downtrend failed to make a higher signaling an uptrend and has also cracked the 1-hour trend line, looking for selling for a 1:1 but eventually a 2:1 tp as I think the price will continue to fall.
Daily London Session Watchlist: GBP/NZD
The U.K. is set to print a potentially downbeat mid-tier report while this pair closes in on a test of resistance.
Apart from that, there’s not much in the way of top-tier catalysts in the upcoming London session, so inflection points might just hold.