GBP NZD Short Idea

٦ يناير ٢٠٢٢

GBPNZD has been in a solid uptrend since the end of December, recently claiming the Key phyclogical level of 2.00. However as the price reached this level there has been a sell-off dropping the price to 2.0057. Because of this and the Overbought RSI levels on the 4hr chart, its likely for GBPNZD to drop below the 2.00 level. The initial target of this trade is located at the 1.992, the final profit target is located at the previous restiance level of 1.972. The stop-loss area for this trade is located just above the recent high of 2.0078.