Nice idea on GBPNZD and there may be bullish bias as you have identified. The first support that we have identified is at 1.999, falls in the blue zone/ buy that you have identified. It is a horizontal overlap support, with a 50% Fibonacci extension and 50% Fibonacci retracement. Stochastic is approaching its support at 5.8% where a corresponding bounce could occur. If a corresponding bounce does occur, we may want to look at 2.0193 resistance level, which falls in the green zone/ target level that you have identified. It is a horizontal pullback resistance with a 100% Fibonacci extension and 50% Fibonacci retracement. Looking forward to seeing how things develop.
Please have a look at our idea and share with us what you think.
Please have a look at our idea and share with us what you think.