GBPNZD: Sell opportunity on the 1M Resistance.

The pair has been consolidating for 1 month following the October 16th rejection on the 1M Resistance. Due to this consolidation, 1D naturally is neutral (RSI = 53.790, STOCH = 52.061, Williams = -54.030, CCI = -35.5091, Highs/Lows = 0.000) but still above the 1D MA50 (blue line).

Based on the price and 1D RSI action, the current pattern resembles the second half of 2017. Then, after crossing below the 1D MA50, it found support on a Higher Low trend line. This is a sell call towards 1.95000.







** If you like our free content follow our profile (https://www.tradingview.com/u/InvestingScope) to get more daily ideas. **

Comments and likes are greatly appreciated.