GBPNZD FAILED to break psychological level

25 Eyl 2018

On 11th September GBPNZD tried to break psychological round number 2.0000 but failed to do so. Within the next 2 weeks, we saw a downturn of almost 500 pips which clearly showed that the market is not going through that resistance. Now it made a pullback and we see it as an opportunity to get in. GBPNZD stopped at Fibonacci 50 and with a proper stop-loss, you may be able to catch a bigger move to the downside. Potential profit target is zone 1.9400-1.9470.