GBP/NZD Price Analysis: Bulls are still in the picture
|- GBP/NZD bulls are seeking an optimal entry point.
- The daily target is compelling as the price stabilises at support.
As per the prior analysis, GBP/NZD Price Analysis: Bulls look to a 50% mean reversion of daily candle, the market remains favourable for an upside correction.
Prior analysis, daily chart
Live market, daily
While the position is there, the hourly conditions are critical.
Prior analysis, hourly chart
Live market, hourly
Ignoring the spike, which is a false read, the price has been building a bullish case in the consolidation and higher lows.
MACD is turning higher and bulls can continue to monitor for bullish structure and an optimal entry point over the course of the coming sessions.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.