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HayatoDragonFX

GBPNZD, 1hr tf, buy at 61.8% retracement

Long
British Pound / New Zealand Dollar (FX:GBPNZD)  
HayatoDragonFX  
FX:GBPNZD   British Pound / New Zealand Dollar
Support and Resistance Supply and Demand Fibonacci GBPNZD gbpnzdlong gbpnzdbuy priceaction priceactiontrading Fibonacci Retracement zones gbpnzdanalysis
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supportandresistance supplyanddemand fibonacci gbpnzd gbpnzdlong gbpnzdbuy priceaction priceactiontrading fibonacciretracement zones gbpnzdanalysis

Price also dropped for GBPNZD yesterday. We dropped until 61.8% retracement of recent rally. At the same time, there is weekly support around this level so we could say this is an area of confluence support.

Also it appears there is a possibility double bottom pattern forming. We could see some rally to the upside if this pattern play out.

Buy GBPNZD 1.9700
Stop loss 1.9630
Take profit 1.9910 (3R)

Use only 1-2% risk
Good luck

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