GBP/NZD recently reversed up from the support area around 1.7400, on which price has reacted since the middle of June.
Today GBP/NZD opened in a bearish tendency. It made a 28 pips move to the downside and then inverted up before the London ope, never reaching the previous day's close, as shown by the HLOC.
The weekly Net Change is up by 1.25% so far. More than half a point was gained today.
This morning the Market Pressure gave us a condition of confluence from the scalping to the multiday level.
The Info Panel Market indicated a positive Volume Delta and the Algo Zones indicated an RSI confluence above the 50 threshold on all timeframes
Also with the Power Strenght underlining the superiority of GBP over NZD, we had confirmation of the intraday buy signal provided by the Target Geometry at 1.7604.
The currency pair rallied 115 pips from the entry level, piercing target 6.
