The GBPNZD is coming into some confluence of resistance.

A popular currency pair in our Forex Analytix member chatroom today has been the GBPNZD and how we are coming into some key resistance. A downtrend line from the highs of Oct 2018 to today, channel resistance from July and the 78% Fibonacci retracement of the 2019 highs to lows has the attention of our traders. While we trade below the 1.9750 the risk may be for a move back to the 1.9400 level breakout point. However, a break higher could revisit the 2.000 level rather quickly.

GBPNZD Confluence of Resistances

Blake Morrow