The GBPNZD approaches from the barrier – Analysis – 28-09-2020

The GBPNZD pair activated the bullish correctional track affected by the strength of the support at 1.9148, to reach 61.8% Fibonacci correction level at 1.9635, note that the stability of the moving average 55 near this barrier will confirm the trading confinement within the bearish trading, to keep preferring the bearish bias domination in the current period trading, to expect the price decline to 1.9365 then repeat the pressure on the mentioned support.

stochastic reach to 80 level confirms the beginning of surpassing the positive pressures, which provides a chance for gathering extra negative momentum, then begin recording the suggested targets.

The expected trading range for today is between 1.9600 and 1.9335

The expected trend for today: Bearish