GBPNZD analysis for 03.02.2023

The summary of British Pound / New Zealand Dollar is based on the most popular technical indicators, such as Moving Averages, Oscillators and Pivots. The GBPNZD price line has recently oscillated in a restricted band. On this chart, a neutral trend has led to the formation of a static support line, shown as a light green area below the price line. The red descending line above the price line reflects the static resistance level that has formed above the price line. The MACD and RSI on the chart indicate that an upward wave may be forming. Traders can keep a close eye on the chart for a possible retest of the support zone of the upside trigger. From there, you can enter long positions and reach the resistance levels shown below.

• There is a resistance level at 1.89950 followed by resistance at 1.91231 and 1.92300.

• There is a support level at 1.88100. Below, there is 1.87850 and 1.87100.

Caution: Wikifx do not suggest any investment advice, and these analyses are just to increase the traders awareness but not a certain instruction for trading or financial investment advice, kindly make your further research.