• FxWirePro: GBP/NZD comatose around daily cloud, breakout eyes 'triangle top' at 1.9350

    Source: FxWire Pro - Technicals / 28 Feb 2018 00:23:32   Eastern Standard Time

    • GBP/NZD comatose around daily cloud top at 1.9226, break above to see further upside.
    • The pair has resumed upside after holding support at 21-EMA in the previous session.
    • Price action continues in a 'Symmetric Triangle' pattern and break out at daily cloud eyes 'Triangle Top' at 1.9350.
    • The pair finds strong support at nearly converged 21 and 55 EMAs at 1.91 levels, we see weakness only on break below.
    • Technical indicators are biased higher. Stochs and RSI are pointing north and MACD is showing a bullish crossover on signal line.

    Support levels - 1.9107 (21-EMA), 1.8940 (converged 110-EMA and Triangle base), 1.8903 (Feb 22 low)

    Resistance levels - 1.93, 1.9350 (Triangle Top), 1.9454 (Feb 8 high)

    Call update: Our previous call (https://www.econotimes.com/FxWirePro-GBP-NZD-holds-above-110-EMA-good-to-go-long-on-dips-1168422) has hit TP1.

    Recommendation: Bias higher. Hold for further upside.

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