FORECAST BY MARIUS GHISEA (MAY 24-29)

According to the daily chart, this pair is still overbought. GBP/NZD might fall around 2.06 where is  Fibo 61%. A triangle was formed on MACD between February 2 and May 22. This triangle indicates also the retracement for this pair.

GBPNZDdaily-page-001

Also H4 chart indicates the beginning of the decline for GBP/NZD below RSI50. This pair might fall in medium term below 2.05 where is EMA200GBPNZD 4h-page-001

 

MariusG
Marius Ghisea – fund manager and advisor for institutional and individual investors. 11 years experience in forex market. Marius G. provides advices for long term investors with low risk strategies investments. Technical analyst at ProfitF.com ( Go to Ghisea Marius Facebook group >>> )
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