Technical Analytics Report

GBP/NZD: Ichimoku Indicators Analysis 30 April 2021

GBP/NZD: Ichimoku Indicators Analysis 30 April 2021


GBP/NZD: H4

Let’s look at the four-hour chart. Tenkan-sen and Kijun-sen lines have merged, 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 (1.9192). One of the previous maximums of Chikou Span line is expected to be a resistance level (1.9275).

 GBP/NZD: D1

 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 ascending. 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 (1.9111). The closest resistance level is Tenkan-sen line (1.9340).

 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 (1.9192) and Stop Loss at the level of Kijun-sen line (1.9275).

 Scenario

 Timeframe: Intraday

Recommendation: Sell

Entry Point: 1.9230

Take Profit: 1.9192

Stop Loss: 1.9275

Key Levels: 1.9111, 1.9192, 1.9275, 1.9340


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