GBP/NZD 1H Chart: Channel Down

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
After a rally in very beginning of January, the British Pound lost its spree and started to depreciate versus the New Zealand Dollar. The drop has been developing within the channel down pattern that originated at a two-year high of 2.0315.
Currently the pair is vacillating between its 200- and 50-hour SMAs, with its short-term SMAs acting as a strong support level. As concerns future moves of the currency couple, we may expect an advance given that 76.19% of market participants are bullish on the pair.
© Dukascopy Bank SA
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