Forex Signals – Selling the Rally
AutoChartist | Jul 23, 2014 03:46AM ET
GBP/NZD continues to rise after the recent breakout of the daily Triangle chart pattern that was earlier identified by Autochartist – as you can see from the following trade opportunity alert for this currency pair. GBP/NZD is expected to rise to the target level 1.9910 in the next 4 trading days. Autochartist set the stop-level for this forecast at 1.9379. This point formed recently when the pair reversed up from the support zone (which has been reversing the pair from May) set between the support level 1.9370 and 61.8% Fibonacci Correction of the earlier upward impulse from March.
The daily GBP/NZD chart below shows the aforementioned support levels:
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