GBP/NZD – Week 18 – Trapped between 2 areas

As we can see from the chart, this pair is moving in a trading range between the support zone at 1.91000 and the resistance at 1.95000. We are currently giving a higher probability for a breakout to the downside and continuation than reaching the resistance area. However, if the price reaches the resistance area and consolidates there that means that the prices will go higher. We advise caution on this one.

Trade with care.

Best regards,
Financial Flagship

Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.