KPeykov
Long

GBP/NZD Bullish King’s Crown Formation

FX:GBPNZD   British Pound / New Zealand Dollar
For the past 2 weeks we've seen the price of GBP/NZD retrace to 61.8% level.
But the price still keeps making Higher Highs and Lower Lows. MACD turns up.
This is Bullish Crown Formation for turning the mid term from bearish to bullish (resuming to the bullish long term).
Now is the perfect moment to get in a Trade.
Buy: at 2.2900 (61.8% fib retracement level)
Stop Loss: 2.2400 (Below the Swing Low, if price brake that level trade invalidation)
Target: 2.5200 (127.2% fib extension level)
Trade active
Great setup, even a conservative profit target of a retest of 2.36 would give a 1:1 Risk/Reward. Thanks for chart.
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