What is chilling and capable of making you kill? If you guessed the 4-hour chart for the GBP/NZD, then you have already spotted the setup.
The bottom of a 250-pip range that has held throughout the month is just a few pip's distance away for GBP/NZD, which is currently at 1.9200.
Are we considering a different opportunity to trade the range?
Although Stochastic hasn't quite reached its "oversold" levels, the GBP bulls will probably not need much propulsion to take advantage of a support play.
Watch for the first green candlesticks that may push the GBP/NZD rate to its 1.9300 midrange or 1.9450 range resistance levels!
If there aren't enough bulls present, the GBP/NZD pair may be poised to break to the downside.
Don't rule out a probable decline to the prior inflection points of 1.8930 or 1.9100!
