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GBP/NZD reached its resistance level at 1.9460 and has formed the ascending triangle pattern. It has 55% quality along with 80% magnitude in the 82 bar period.
The pair recovered from its support level at 1.9095 and has inclined to its two-week resistance at 1.9460. Stochastic indicator is reaching the critical area at 80%, which shows us the pair is overbought and it can be the possible trend change signal. If pair bounces off the resistance level, the first target for short traders can be around 1.9237.
Relative Strength Index along with Stochastic indicator has reached its critical area what increase the possibility of a trend change. If bears will not succeed, bulls should focus their attention on 1.9750 target.
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