FX:GBPNZD   British Pound/New Zealand Dollar
1222 20 17
We have a spike acting as support on monthly chart near 2.25000
snapshot


On D1 chart price overextended and RSI oversold
snapshot


Here on H4 chart.
- bullish divergence near 2.2500
- engulfing bullish candle

Currency streght information:
- NZD extremely overbought
- GBP recovering from oversold levels

This is a risky trade, i will manage SL and targets manually.

Regards.
Comment: First target hit, moving SL to BE
Just started watching this pair , and looked out for ideas. This was a great analysis and good explanation. Nice one . Thanks for sharing.

Do you have any latest outlook on this one. I was looking at this as below
Few probable setups based on bullish bias on GN
Reply
Hello, my bias is bearish, the correction to the upside already finished. See chart below, that analysis is still valid. This is just my opinion and my prefered scenario right now. Regards
GBPNZD-correction finished
Reply
snapshot

I will look for long like this
Reply
FullTimeTrader spesfinancial
Hello, thanks for sharing, i personally dont use breakout strategy because sometimes prices move fast and the risk reward ratio is not good. It depends on each trader's style. Regards.
Reply
spesfinancial PRO FullTimeTrader
Sure, I'd like to learn more about your strategy. Keep following you.
Reply
traderghloh PRO spesfinancial
Made more money when it shot like a star after the NZD news. From now on, trend change to uptrend.
Reply
@fulltimetrader what meter do you use, can you share? I use fx multi meter which indicates that the downside is at over 90% which then translates to an upward momentum...
Reply
It is shopping time to long gbpnzd - it is the moment.
Reply
FullTimeTrader traderghloh
Hello, i use a similar indicator you mention and the same way. Sometimes it is useful to choose extreme oversold or overbought currencies.
Reply
I was waiting for another big drop before I get it and it happened today and so I am in for a long setup. This now can go up to the levels of 2.400 even before it resumes it's downtrend. I am keenly following to see and will as well manage my stops manually but overall seems a good trade.
Reply
United States
United Kingdom
India
España
France
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
Malaysia
日本
한국
Home Stock Screener Forex Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing Priority Support Ideas Published Followers Following Private Messages Chat Sign Out