GBPNZD Dip buy opportunity on the 1D MA50.

The GBPNZD pair gave us a strong buy signal last time we called on it (January 05 2024, see chart below) and even broke above the former Channel Down pattern:


The trend transitioned into an Inverse Head and Shoulders (IH&S) and recently broke above its top. It has formed the first 1D Golden Cross in 1 year (since March 27 2023), so on the long-term we have confirmed a new bullish trend.

Right now we are looking for a short pull-back towards the 1D MA50 (blue trend-line) followed by an aggressive expansion towards the 2.0 Fibonacci extension, which is the typical target of the IH&S. Our target is lower on Resistance 1 at 2.15900.


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