GBP/NZD Rejection Off the POC Zone Targets Sub 1.8730

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Published: Feb 18, 2019, 15:03 GMT+00:00

Hi traders, The GBP/NZD correction might come to a stall as the price is making a U-turn within the important POC zone. 1.8819-20 is an important zone

GBP/NZD Rejection Off the POC Zone Targets Sub 1.8730

Hi traders,

The GBP/NZD correction might come to a stall as the price is making a U-turn within the important POC zone.

1.8819-20 is an important zone where we can see a confluence of price action and historical sellers. If the price manages to sustain bearish momentum that has been piggybacked from higher timeframes we might see 1.8750, 1.8730 and eventually 1.8710. However, only a strong close below 1.8700 will provide bears with more strength where the target is 1.8652. For bears to dominate it is vital that the price makes a lower high-lower low pattern on H1 timeframe.