GBP/NZD 4H Chart: Short-term decline expected

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Source: Dukascopy Bank SA
4H1D1W
MACD(12;26;9)SellBuySell
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)NeutralNeutralNeutral
Alligator(13;8;5)SellNeutralSell
SAR(0.02;0.2)SellSellBuy
Aggregate⇘⇒⇒

[ANNOUNCE] Since the end of August, the GBP/NZD exchange rate has been trading downwards, guided by a descending trend line. [/ANNOUNCE] 

It is likely that some downside potential could prevail in the market, as the currency pair is pressured by the 55– and 100-period moving averages in the 1.9900 area. In this case the pair could gain support from the Fibo 61.80% at 1.9218.

In the meantime, it is unlikely that bulls could prevail in the market, and the exchange rate could exceed the Fibo 23.60% at 2.0308 in the nearest future.

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