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Long

GBPNZD - Houston, Prepare for Lift Off

FX:GBPNZD   British Pound/New Zealand Dollar
299 1 8
Greetings Fellow Traders,

Very similar to the NZDUSD             trade I posted about yesterday we are now seeing some good indications that the major anticipated breakout for NZD pairs are actually going to come to fruition. Recent price action on GBPNZD             is shifting in a bullish manner towards the upper resistance of a price channel I've had my eyes on for months, it has offered plenty of trade opportunities in both directions all while maintaining the overall larger trend.

A couple weeks ago the bullish rally was a little too intense for the market and they simmered it down by adjusting the strength. Now, even with that strength we are poised to break the key technical level.

I will be looking for a confirmed daily close outside of the price channel as well as a retest of the former resistance.

This is a daily to weekly trade, good pip counts can be made short term using this set up too however bear in mind GBPNZD             is a cross and can move substantially.

This move and confirmation will more than likely occur simultaneously with NZDUSD             closing below .64000.

Feel free to comment/like/follow
BLUE43 TOP
10 months ago
can we bounce without double bottom ?
Reply
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