GBP/NZD: Bullish Momentum Expected to Resume

17 May 2023

Yesterday, GBP/NZD experienced a pullback around the 1.99000 area, which coincided with the 61.8% Fibonacci retracement level. Additionally, there was a divergence observed on the RSI indicator, suggesting that the price is poised to resume its upward movement with a new bullish impulse. As a result, we are currently seeking a long setup for this currency pair.