CapitalHillFX

Potential Buy Setup for GBPNZD

Long
OANDA:GBPNZD   British Pound / New Zealand Dollar
Looking at GbpNzd, we could be seeing a potential buy setup form. Price has been creating bullish structure since the beginning of year now. If price manages to break the resistance level that it is currently sitting at, this will show a sign of strength for the pair and will confirm our bullish bias going forward. I've created a non-horizontal support level for context, but I would like to see a very decisive bullish candle closure on the 4H to identify that the buyers are still present. My alarm is set above the level, so just patience for now.

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