BUY GbpNzd from trend line bottom

The price is approaching the rising channel line, and at the same time, the Fibonacci 23.6% level intersects with the channel line. On the H1 and H4 charts, the 21-period RSI is in the overbought zone.

There is a high probability of the price encountering resistance to the upside from the intersection of the channel bottom and the Fibonacci 23.6%. This is supported by the upward movement in the RSI.

Additionally, the 100-day simple moving average supports the uptrend and acts as a resistance level for the price.

The New Zealand current account balance data, which was released a few hours ago, came in better than expected, leading to some strength in the NZD. However, the data is not likely to have a lasting or medium-term impact.

Pending buy order: 2.0780
Stop Loss: 2.0710
Take Profit: 2.0950

Trade active:

The pending buy order became active at the level of 2.0780.

Wishing everyone good luck and abundant profits.

Trade closed: stop reached