Selling GBP/NZD with the target of 1.7940

GBP/NZD

Today, January 10, there is a wonderful prospect of a mid-term decrease in the GBP/NZD pair. On the monthly chart, the price decreases from the balance line, failing to overcome it.

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On the weekly chart, the price also moved down from the balance line last week.

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On the daily chart, the price slides down below the Krusenstern line. This is an indicator trend line; if it is down, the trend is down, and if the price crosses this line from the top down or turns down from it, the trend is also down.

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On the H4 chart, the price turned from the Krusenstern line (red arrow) downwards, then slightly corrected upwards, having worked the balance line, and currently turns from it with a black candle. Also on this timeframe, the Marlin oscillator signal line unfolds down from the border with the growth territory.

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On the H1 chart, the price turns down from the combined balance and Krusenstern lines.

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The target of the decline is to support the embedded trend line in the price channel of the weekly TF-1.7940.

The material has been provided by InstaForex Company - www.instaforex.com