$GBPNZD Has Bouced Back From Its Lower Level

SUMMARY:

The primary trend of GBP/NZD is bearish on charts but from past few trading sessions prices are not sustaining at lower levels & consolidating near the important level of 1.9650. In its hourly chart, prices are consolidating with strong positive bias to give break out at upside. It is also taking support of 30 DMA and if it breaks its resistance level, it can come up to test its 200 DMA. If the pair breaks the resistance level of 1.9650 at upside then we can expect it to test the level of 1.9700/1.9750. 

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GBP/NZD ( Hourly ):

CHARTS 

INDICATORS:

RSI is sustaining in buying territory supporting the upcoming bullish trend in the pair. 
MACD line is also sustaining in buying territory indicating the bullish trend in the pair.

STRATEGY: 

GBP/NZD has bounced back from the lower level & looking bullish on charts for next few session. One can go for buy on dips strategy for this pair for intra day to mid term positions.

PIVOT POINTS:

	S3	S2	S1	PIVOT	R1	R2	R3
EUR/USD	1.0611	1.0733	1.0808	1.0930	1.1005	1.1127	1.1202
GBP/USD	1.4581	1.4693	1.4771	1.4883	1.4961	1.5073	1.5151
USD/JPY	117.18	117.74	118.47	119.03	119.76	120.32	121.05
USD/CHF	0.9346	0.9415	0.9522	0.9591	0.9698	0.9767	0.9874
AUD/USD	0.7700	0.7749	0.7788	0.7837	0.7876	0.7925	0.7964
EUR/GBP	0.7233	0.7275	0.7302	0.7344	0.7371	0.7413	0.7440
USD/CAD	1.2288	1.2347	1.2415	1.2474	1.2542	1.2601	1.2669
NZD/USD	0.7431	0.7491	0.7545	0.7605	0.7659	0.7719	0.7773

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