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Gbp/nzd

Posted on the 09 October 2019 by Merks50

GBP/NZD intraday: the downside prevails as long as 1.9434 is resistance
Our pivot point is at 1.9434.
Comment:
the RSI is below 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the pair is trading under both its 20 and 50 MAs (respectively at 1.9389 and 1.9394).
Alternative scenario:
the upside breakout of 1.9434, would call for 1.9527 and 1.9582.
Our preference:
the downside prevails as long as 1.9434 is resistance.