Daily Market Analytics - Forex

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GBPUSD Technical Analysis – 24th FEB, 2026
GBPUSD – On 24th February 2026, GBPUSD registered a notable intraday high at 1.3536

 
GBPUSD Technical Analysis – 24th February 2026
On 24th February 2026, GBPUSD registered a notable intraday high at 1.3536, a level that marked a critical resistance zone within its medium-term structure.
Daily Chart
The advance into 1.3536 coincided with a test of the 200-day SMA, reinforcing its role as long-term dynamic resistance. Price action printed an upper shadow, reflecting profit-taking pressure at the highs. The RSI approached 68, indicating strong bullish momentum but edging toward overbought conditions. This suggested that while buyers maintained control, upside conviction was beginning to taper near resistance.
4-Hour Chart
On the 4H timeframe, the rally into 1.3536 was accompanied by expanding bullish candles, but momentum indicators began to diverge. The MACD histogram showed reduced bullish acceleration, with signal lines flattening. The Stochastic Oscillator entered overbought territory, reinforcing the likelihood of short-term exhaustion. The rejection at 1.3536 highlighted supply pressure and the potential for corrective retracement.
Key Levels
•    Support: 1.3485 (minor demand zone), 1.3425 (structural base, prior consolidation floor)
•    Resistance: 1.3536 (intraday high, immediate supply), 1.3600 (psychological barrier, Fibonacci 50% retracement of prior decline)
Market Implications
The high at 1.3536 underscored GBPUSD’s struggle to break through medium-term resistance. Sustained closes above this level would open the path toward 1.3600, while failure to maintain momentum could trigger a pullback toward 1.3485 and 1.3425.

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Disclaimer: This analysis represents my own opinion only. It is not to be construed as an opinion, offer, solicitation, recommendation, or financial advice of the Companies operating under the FXOpen brand.

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[FXOpen Trader]

NZDUSD Technical Analysis – 24th FEB, 2026
NZDUSD – On 24th February 2026, NZDUSD registered a sharp intraday low at 0.5942

 
NZDUSD Technical Analysis – 24th February 2026
On 24th February 2026, NZDUSD registered a sharp intraday low at 0.5942, a level that marked a critical support zone within its medium-term structure.
Daily Chart
The decline into 0.5942 aligned with the 200-day SMA, reinforcing its role as long-term dynamic support. Price action carved out a rejection wick, reflecting strong demand absorption. The RSI dipped toward 43, signaling weakening momentum but not yet oversold. This suggested the move was corrective rather than a structural breakdown.
4-Hour Chart
On the 4H timeframe, the drop into 0.5942 was accompanied by compressed bearish candles, followed by stabilization. The MACD histogram showed diminishing bearish momentum, with signal lines flattening and preparing for convergence. The Stochastic Oscillator had already cycled into oversold territory, supporting the case for a rebound. The rejection at 0.5942 highlighted exhaustion among sellers and the reemergence of buyer interest.
Key Levels
•    Support: 0.5942 (intraday low, 200-day SMA confluence), 0.5900 (secondary structural base)
•    Resistance: 0.6005 (minor supply zone), 0.6060 (psychological barrier, Fibonacci 38.2% retracement of prior decline)
Market Implications
The low at 0.5942 underscored NZDUSD’s resilience at medium-term support. Sustained closes above 0.6005 would reinforce bullish continuation toward 0.6060, while a decisive break beneath 0.5942 would expose the pair to deeper downside risks toward 0.5900 and 0.5860.

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Disclaimer: This analysis represents my own opinion only. It is not to be construed as an opinion, offer, solicitation, recommendation, or financial advice of the Companies operating under the FXOpen brand.

For in-depth analysis, please check ...