GBPNZD is facing bearish pressure | 07 May 2021
Prices are facing bearish pressure from our short-term descending trendline resistance, horizontal swing high resistance as well as 100% Fibonacci extension and 61.8% Fibonacci retracement. Prices might push down towards horizontal swing low support and our 2nd target can be the Fibonacci confluence area of 78.6% Fibonacci extension as well as -27.2% Fibonacci retracement. If prices push up further, prices might face resistance from 50% Fibonacci retracement and 161.8% Fibonacci extension. Ichimoku cloud is also above prices, showing a bearish pressure for prices.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.