Chart the Market (16/10/2026)
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Chart the Market (16/10/2026)

Published: 16 October 2026,05:32

Published: 16 October 2026,05:32

Chart The Market

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GBPUSD,  H4:                                                               

GBP/USD continues to trade in a narrow range near its recent lows, with the latest price action highlighting the potential for a bullish reversal. The pair briefly staged a false breakout below its previous low during the prior session before recovering back into the established trading range, suggesting that downside momentum may be fading and buying interest could be emerging.

A decisive breakout above the upper boundary of the current range would strengthen the bullish outlook, signal a potential shift in near-term market momentum and potentially pave the way for a broader technical rebound.

Conversely, failure to overcome the range resistance could leave the pair vulnerable to renewed selling pressure and another test of its recent lows. A decisive break below this support would reinforce the prevailing bearish structure and expose the pair to further downside. Until a confirmed upside breakout materialises, the pair’s ability to sustain a recovery

ResistanceLevels1.1390, 1.1710

Support Levels:1.1100, 1.0736

NZDUSD,  H4

NZD/USD has traded sideways over the past two weeks before staging an upside breakout from its established consolidation range, signalling a potential shift in near-term market momentum and suggesting that the prevailing bearish trend may be losing traction. The breakout indicates improving buying interest and could pave the way for a broader technical recovery.

A sustained move above the former range boundary would reinforce the bullish outlook and potentially drive the pair toward the next key resistance near 0.5700, where a significant liquidity zone is identified. This level is likely to serve as a critical test of the pair’s recovery, with a decisive break above it potentially opening the door for further upside.

Conversely, a failure to sustain the breakout could expose NZD/USD to renewed selling pressure and a potential return to its previous consolidation range. Until the breakout is invalidated, however, the near-term bias remains tilted to the upside, with the 0.5700 resistance level emerging as the next key technical target.

ResistanceLevels0.5700, 0.5845

Support Levels:0.5580, 0.5470

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