- GBP/NZD price grinding higher for a 38.2% correction on the daily chart.
- Bears to collect additional liquidity before the target of 1.8580.
As per prior analysis, GBP/NZD Price Analysis: Bulls with eyes on a daily correction, the price has played out as expected.
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Current price
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The price reached 38.2% Fibo to the pip and has started to resume the downside.
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The resistance of the M-formation may need some more challenging before a downside correction.
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The daily wick is compelling for an upside fill on the lower time frames which will provide additional liquidity for the downside target of 1.8580 and a -0.272% Fibo retracement of the corrective range.
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