GBP/NZD intraday: the downside prevails as long as 1.9765 is resistance
1.9765 is our pivot point.
Comment:
the RSI is below 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the pair is trading under both its 20 and 50 MAs (respectively at 1.9697 and 1.9730).
Alternative scenario:
the upside breakout of 1.9765, would call for 1.9859 and 1.9916.
Our preference:
the downside prevails as long as 1.9765 is resistance.
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