GBPNZD is facing bearish pressure | 10 May 2021

GBPNZD is facing bearish pressure | 10 May 2021 for FX:GBPNZD by FXCM

GBPNZD is facing bearish pressure | 10 May 2021



Prices are facing bearish pressure from horizontal swing high resistance, in line with 127.2% Fibonacci retracement and 127.2% Fibonacci extension . Prices might push down towards 1st support in line with horizontal swing low support which coincides with 61.8% Fibonacci retracement and 61.8% Fibonacci extension . If prices push up further, prices might face resistance from horizontal pullback resistance in line with 61.8% Fibonacci extension and 61.8% Fibonacci retracement . Stochastics is facing resistance from 90.29 level, potential for further downside.

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