GbpNzd is nearing the lower range of its upwards channel. Based on the indicators there's still enough buying pressure and trend strength left for GbpNzd to go up. And a break of the lower range isn't very likely.
Take profit: 1.89>1.92
Stop loss: 1.87.
If the lower range does break then switch to sell for 400-500 pips target
GBPNZD
Has the moment arrived? it looks like the GBPNZD has formed a nice setup to short. The end of wave C is close, maybe already finished. Anyway
we can see that it has formed a double sealing in a hard connalty resistence in 1.88770. Tendence going down quite close from were we are now. Did I mention RSI is already overbought on W1, D1 and H4?
We aim to...
The price is in the zone offer, PPR D1 is formed, on the H4 we see a rollback to the 0.5 Fibonacci this PPR, + hidden divergence which indicates the continuation of a new trend. Patern waiting for PA in the short.
NZD has retraced off of good dairy prices. But overall GBP is the stronger currency. It has retraced. I might wait for a deeper retracement as NZD has been oddly strong lately.
Watch for potential reversal on this pair. Within Daily supply zone, upper channel, and at yearly pivot. TP would be 1.8325 (demand zone, source of last rally).
Also riding the recent bullish trend of EUR and GBP pairs after the 1st round of French presidential election. If it doesn't hit 1.90 which is my TP2, there's high probability that at least it would hit 1.89 (TP1). But I'll be closely watching (and maybe manually close all remaining EUR and GBP open positions I have) before the ECB press conference tomorrow...
Hello traders. Price makes a really deep pullback right now. Almost 100%. It makes me think that price is going to break 1.9 level. But before it happens we can see a pullback to near 1.8 level.
When price breaks 1.9 level, I will go to lower timeframe and will look for opportunitites to buy. My target: 2.05.
Problem zone: 2.0
