GBP/NZD Coming to long-term weekly support (25th March,2022)

GBP/NZD, coming to long term weekly support near 1.88000 of the trend line, both RBNZ & BOE raising interest rates and BOE being more aggressive of the two. It’s the Russian invasion causing the pound to be range bound as UK is the most aggressive in taking actions and recommending others to do the same against Russia. When the dust settles the pound will rise again as its coming near supports.

PLAN:

Buy GBP/NZD 1.88000-188460 for the medium to long-term target of 1.98400

Rational :

the pair is coming to weekly support trend line which held the pair many times so its the significant enough to initiate the buy. future path of the pair’s forecast is in the chart.