February 18, 2018 Facebook  twitter  Google+
Symmetrical Triangle Confines GBPNZD Moves
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Following its defeat from 1.8000 psychological magnet, the GBPNZD has been struggling between a short-term symmetrical triangle with 1.7585 support and 1.7900 resistances. Presently, the pair is declining towards formation lower-line test, at 1.7585, which if broken could trigger its immediate south-run to 38.2% Fibonacci Retracement level of 1.7500 and then to 1.7405 – 1.7415 horizontal-area. In case if the quote declines below 1.7405, also clears 1.7400 round figure, chances of its downward trajectory to 1.7135-40 and then to 1.7000 can't be denied. However, 1.7260 and the 61.8% Fibo level of 1.7190 might offer intermediate halts.

Alternatively, 1.7725-30 and the 1.7830 may provide nearby resistances to the pair before it could confront with 1.7900. Should prices manage to surpass 1.7900, it becomes capable enough to challenge 1.8000 mark and rally in direction of 1.8090 – 1.8100 region.

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