GBPNZD:Breakout and Potential retrace

6 Mar 2023

Hey Traders, GBPNZD was trading in an uptrend and then managed to break it massively due to NZD strength. if we take a look at the stock market we will notice some bullish bias, and stocks do correlate with NZD and AUD positively. now GBPNZD is in a correction phase after the breakout so i will be watching a potential retrace around 1.945 support and resistance zone.