GBP/NZD Forms Shooting Star in Daily Chart, Targets 2.0800

GBP/NZD Forms Shooting Star in Daily Chart, Targets 2.0800

11 May 2016, 10:54
Roberto Jacobs
0
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GBP/NZD Forms Shooting Star in Daily Chart, Targets 2.0800

  • Candlestick pattern formed- Shooting Star 
  • Potential reversal Zone (PRZ) -2.1485 
  • GBP/NZD recovered from the low of 2.1147 at the time of writing. It is currently trading around 2.1246. 
  • Short term trend is still weak as long as resistance 2.1485 holds. 
  • On the lower side major support is around 2.109 (55 day EMA) and any break below targets 2.0940/2.0800. 
  • Any break above 2.1485 will take the pair to next level till 2.165/2.16775 (161.8% retracement of 2.1345 and 2.0809).

It is good to sell on rallies around 2.12400-2.1450 with SL around 2.1485 for the TP of 2.0940/2.0800       

  

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