Technical Analytics Report

🔔GBP/NZD: Ichimoku indicators analysis 07/01/2021

Let’s look at the four-hour chart. Tenkan-sen line is below Kijun-sen, both lines are directed downwards. Confirmative line Chikou Span is below the price chart, current cloud is descending. The instrument is trading below Tenkan-sen and Kijun-sen lines; the Bearish trend is still strong. One of the previous minimums of Chikou Span line is expected to be a support level (1.8364). The closest resistance level is Kijun-sen line (1.8726).
On the daily chart Tenkan-sen line is above Kijun-sen, the lines are horizontal . Confirmative line Chikou Span is below the price chart, current cloud is descending. The instrument is trading below Tenkan-sen and Kijun-sen lines; the Bearish trend is still strong. One of the previous minimums of Chikou
Span line is expected to be a support level (1.8300). The closest resistance level is Tenkan-sen line (1.8858).

On the both charts the instrument is still falling. It is recommended to open short positions at current price with Take Profit at the level of previous minimum of Chikou Span line (1.8364) and Stop Loss at the level of Kijun-sen line (1.8726).

British Pound to New Zealand Dollar
Buy Sell Spread
1.8671 1.8665 60
Scenario
Timeframe Day’s Range

✅Recommendations SELL
Entry Point 1.8674
Take Profit 1.8364
Stop Loss 1.8726

Support levels 1.8300, 1.8364, 1.8726, 1.8858

 

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