GBP/NZD Rejection Off the POC Zone Targets Sub 1.8730

2 min read
Nenad Kerkez

Nenad Kerkez

Head of Trading

Hi traders,

The GBP/NZD correction might come to a stall as the price is making a U-turn within the important POC zone.

1.8819-20 is the important zone where we can see a confluence of price action and historical sellers. If the price manages to sustain bearish momentum that has been piggybacked from higher timeframes we might see 1.8750, 1.8730 and eventually 1.8710. However only a strong close below 1.8700 will provide bears with more strength where the target is 1.8652. For bears to dominate it is vital that the price makes a lower high-lower low pattern on H1 timeframe.

The analysis has been done with the CAMMACD.MTF template.

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Many green pips,
Nenad Kerkez aka Tarantula FX
Elite CurrenSea

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