GBPNZD - Range Resistance in Focus

Jul 6

GBPNZD continues to trade within a well-defined range, with price repeatedly reacting between the major support and resistance zones. 📊

Price is now retesting the upper bound of the range, where sellers have stepped in multiple times before.

📌 As long as this resistance zone holds, we will be looking for sell setups, anticipating another move back toward the lower bound of the range.

As always, rather than selling blindly into resistance, we will wait for bearish confirmation before considering any short positions.

Will the bears defend range resistance once again? 🤔

⚠️ Disclaimer: This is not financial advice. Always do your own research and manage risk properly.

📚 Stick to your trading plan regarding entries, risk, and management.

Good luck! 🍀

All Strategies Are Good; If Managed Properly!
~Richard Nasr

Jul 14

Trade closed: target reached