Let's look at the four-hour chart. Tenkan-sen line is below Kijun-sen, both lines are directed downwards. Confirmative line Chikou Span is below the price chart, current cloud is descending. The instrument is trading around lower border of the cloud. One of the previous minimums of Chikou Span line is expected to be a support level (1.8622). The closest resistance level is the upper border of the cloud (1.9060).
On the daily chart Tenkan-sen line is below Kijun-sen, the lines are horizontal . Confirmative line Chikou Span is below the price chart, current cloud is descending. The instrument is trading around lower border of the cloud. The closest support level is Kijun-sen line (1.8660). The closest resistance level is the upper border of the cloud (1.9101).
On the both charts the instrument is still falling. It is recommended to open short positions at current price with the target at the level of previous minimum of Chikou Span line (1.8622) and Stop Loss at the lower border of the cloud (1.9060).
British Pound vs New Zealand Dollar
| Buy | Sell | Spread |
| 2.30285 | 2.30105 | 180 |
Scenario
| Time frame | Day's Range |
| Recommendations | SELL |
| Entry Point | 1.8956 |
| Take Profit | 1.8622 |
| Stop Loss | 1.9060 |
| Support levels | 1.8622, 1.8660, 1.9060, 1.9101 |
Alternative scenario
| Recommendations | |
| Entry Point | |
| Take Profit | |
| Stop Loss | |
| Support levels |
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