GBP/NZD inside a rebound zone

GBP/NZD inside a rebound zone

There is a corrective move in favor of the bears in GBP/NZD and according to our Fibonacci projections, the pair has tested a demand zone around the 61.8% level at 1.8759, at which is located the 200 SMA at H1 chart. Such move could trigger buy orders in order to reach the next target around -23.6% Fibo level at 1.9685.

RSI indicator remains in the positive territory and it’s pointing to the upside, calling for further bullish moves in the short-term.

GBPNZDmH4.png

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