GBP/NZD: Small Bounce Then Continue
GBP/NZD
-0.59%
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Bearish
GBP/NZD is currently at 1.9447 in a channel. We are looking for a small bounce here and then a continuation of the channel to the ATR Target at 1.9308 with a further target the 2.618 Fibo at 1.9255. We have convergence on the hourly. Target (NYSE:TGT) up is 1.9639 if it reverses. Watch the USDX for any change in direction. The ATR for the pair currently is 254 pips per day and its 180 day average is 222 pips per day. USDX is currently up.
GBPNZD-small bounce then Continue
