WEEKLY FOREX ANALYSIS

GBPNZD

23 December to 27 December

Timeframe Day Analysis
From late July to mid October, buyers have been in command during this period and prices were consolidating till Mid December, when the recent news cause a major hike followed by an almost immediate price collection.

In a Day Timeframe, we have identify two very strong resistance area, 1.95730 to 1.96807 and the second area is 2.01528 to 2.03526

Timeframe H4 Analysis
In a H4 timeframe, we can see the price was rejected at 1.96795 and it restested 1.96795 currently and is again rejected. We will be watching this pair on the 23rd December for a Buy candle to close and we can commence a Buy with 3 TP