GBP/NZD 4H Chart: Stranded Between PPs

GBP/NZD 4H Chart: Stranded Between PPs

The Pound Sterling has increased its gains against the New Zealand Dollar. The exchange rate remained trading in several ascending channels and has tested the upper boundary of a junior channel.

The currency exchange was stranded between pivot points. The weekly R2 was providing resistance while the monthly R1 was providing support for the exchange rate.

As for near future, analysts project that the GBP/NZD currency pair is likely to continue bullish until it breaches the upper boundary of the junior channel. If or it occurs, the price movement could encounter a resistance set by the monthly PP at 1.9701.

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