GBP/NZD Price Analysis: Bulls stepping up to the plate

GBP/NZD bulls are stepping in at a critical support structure.
The bears need to make or break at this juncture, as evident across the charts.

Ross J Burland FXStreet

GBP/NZD is on the verge of a compelling bullish scenario as illustrated in the following daily and 4-hour chart analysis:

Daily chart

From a daily perspective, the price has hit a critical support level and the bulls would be expected to be active at this juncture.

A significant surge to the upside will pressure key lower time resistances as follows...

4-hour chart

From a 4-hour perspective, the support structure is even more evendent but there is work to do from the bulls.

The 4-hour resistance guards the last stop for an onwards bullish move to new highs.

Author

Ross J Burland

FXStreet

Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.

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