GBPNOK at Key Demand Zone: Rebound Toward 14.0198?

Feb 6

GBPNOK reached a significant demand zone, marked by prior strong price reactions and buying pressure. This level has historically acted as a support zone, indicating the potential for a bullish reversal if buyers regain control.

The current market structure suggests that if the price confirms a rejection from this demand zone, we could see a move upward toward the 14.0198 level, which aligns with a logical retracement.

Traders should watch for bullish confirmation signals, such as bullish engulfing candles or higher lows, before entering long positions.

Feb 6

Trade active

Feb 23

Trade closed: target reached

Take Profit Hit