GBP/NZD 88.6 and D H5 are the Last Defense for Bears

2 min read
Nenad Kerkez

Nenad Kerkez

Head of Trading

Dear traders,

The GBP/NZD has reached the 88.6 and D H5 confluence so we could see a move down. This is the last line of intraday defense for bears.

1.9275-1.9300 is the POC zone and we should see a move down as the price is still in downtrend. The retracement up has been strong as the price bounced back from 1.9100 level.
The nickname of the GBP/NZD is “The Beast” as it is one of the most volatileForex markets if not the most volatile. The ATR is very big in the GBPNZD. If the market stays below 1.9330 then 1.9240 and 1.9206 are targets. Below 1.9135 and 1.9100 retest are also very possible.

The Analysis has been done with the Black Widow system.

Good trading,
Nenad Kerkez

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