GBPNZD: We could see a rejection at resistance once more
GBPNZD is range bound currently, and this latest moves continues the narrative of it. Right now, it's approaching a major resistance, where each touch here has showed good rejection.
My target would be toward 2.25230, an achievable target.
Though a scenario for more upside is possible and can happen just as much. But, I would take the side for more downside in this particular case.
Let me know in the comments what you think:
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
My target would be toward 2.25230, an achievable target.
Though a scenario for more upside is possible and can happen just as much. But, I would take the side for more downside in this particular case.
Let me know in the comments what you think:
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
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Note
Stop loss reached. Frequent rebounds from a level tend to weaken it, increasing the probability of a breakout.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.