DanV

GBPNZD - Intermediate & Longer term Bullish

Long
FX:GBPNZD   British Pound / New Zealand Dollar
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2
I have publish my view on GBPUSD and whilst at the time when is was published it proved to be little too premature, I think it is still valid.
The GAP down open last weekend on GBPUSD I think formed the bottom like climax selling and which has held for whole week. Smaller time frame price action suggest minor 1 & 2 waves are nealy complete with new upward momentum should appear to the upaside as I suspect the Dollar Index is approaching possible top near 82 -82.2 level. Accordingly I was using GBPUSD to possible bottom to actually stalk long trade in GBPZND or GBPAUD . Well here is the H4 chart of GBPNZD suggesting possible inverted H&S pattern which could also trigger long term swing trade to the upside.


Comments

This chart closed as it never had follow through and hence no trade triggered. As you can see the actual trade we were looking for was delayed and might actually develop now. So the longer term expectation is for major move up but will re-publish it with new analysis, which would still validate the trade on break above 1.84
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This chart is being retired as the trade never actually triggered buy price action follow through above the neckline. Will re-evaluate as long trade will develop but GBPUSD needs to bottom out which I anticipate late this week or next around 1.47 -1.4750 a area.
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Thankz for Update..
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