GBP/NZD 1H Chart: Bulls could prevail

Note: This section contains information in English only.
Source: Dukascopy Bank SA
Indicator4H1D1W
MACD(12;26;9)BuyBuySell
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)NeutralNeutralNeutral
Alligator(13;8;5)BuyBuySell
SAR(0.02;0.2)BuyBuySell
Aggregate⇗⇗⇘

[ANNOUNCE] The GBP/NZD exchange rate has been trading upwards since the end of July after it reversed north from the descending trend line at the 1.8280 mark. [/ANNOUNCE] 

Currently, the currency pair is testing the psychological level at 1.8950. Note, that the pair is supported by the 55-, 100– and 200-hour SMAs, currently located in the 1.8790/1.8858 range. Thus, the rate could surpass the given resistance and continue to extend gains. However, note, that the rate has to surpass the Fibo 38.20% at 1.9037.

If the given resistance holds, a reversal south could occur within the following trading sessions. A possible downside target is the Fibonacci 61.80% retracement at the 1.8146 mark.

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