Following the very strong impulsive selling in Q4 last year, which took the pair roughly 2300 pips lower in a couple of months, price has been pulling back correctively and is now closing in on the Long-term key resistance around 1.96-1.98.
This is still a waiting game for now. But the longer GBPNZD consolidates, the more appealing the breakout potential becomes.
And with the prospect of an 800-pip decline, this one could be worth the wait.
This is still a waiting game for now. But the longer GBPNZD consolidates, the more appealing the breakout potential becomes.
And with the prospect of an 800-pip decline, this one could be worth the wait.