10.06.201405:01 Forex Analysis & Reviews: Forecast for GBP/NZD for June 10, 2014

Long-term review

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

GBP/NZD

Monthly forecast-

The pair has been in an uptrend from the 1.9203 levels and moving towards the 61.8 fib level. The pair paused its rally at the 61.8 fib level and closed at the 50.0 fib level. The pair has a strong support at 1.9665 and 1.96 (50 weeks SMA). On the down side, once the pair breaks 1.96, a bearish flag will hoist for a downside target of 1.9427 levels. On the up side, if the pair crosses the 1.98 level, it can fly up to 1.9927, 2.0, and 2.0188 levels.

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.