". There is a possibility of temporary retracement to the suggested support line (1.9485).
. if so, traders can set orders based on Price Action and expect to reach short-term targets."
. GBPNZD is in an uptrend, and the continuation of the uptrend is expected.
. The price is above the 21-Day WEMA, which acts as a...
The cycle in wave (W) ended at 2.0566 where the 4 hour is turning down. While below the 1.9839 highs where the hourly is turning down the pair can continue lower again to correct the cycle up from the 12/12/2018 lows.
The pair has formed an inverted head and shoulder patttern on daily basis. The prices are at the bottom of the second shoulder and is supported by 21 days EMA. Buy the pair as soon as the prices sustain above the necline at 1.93541 i.e. a daily closing above this level. The price may hover between the height of the second shoulder which is a good sign before a...