I am taking a buy on GBP/NZD if price can get into this area in the london session. London Session for me begins at 6:00am UTC Time. Invalidation would be if price gets into this area after london session close (11.01AM) UTC Time.
GBPNZD - 24h expiry - We look to Buy at 1.9000 (stop at 1.8925)
Previous support located at 1.9050.
Previous resistance located at 1.9100.
Indecisive price action has resulted in sideways congestion on the intraday chart.
Risk/Reward would be poor to call a buy from current levels.
A move through 1.9100 will confirm the bullish momentum.
Our profit...
This falling wedge formed during the recent 1H uptrend may indicate a long break out of 100 pips. This analysis further supports my earlier monthly analysis of a descending triangle testing 4H support for a potential long.
Hello traders!
‼️ This is my perspective on GBPNZD.
After taking out liquidity above trendline, price started a retracement. I see price to go a little bit lower to fill the imbalance and then to reject from institutional big figure 1.91000.
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GBPNZD finally broke the low volatility creep and dropped to the bottom of the downward regression channel. Looking for momentum confirmation to the upside before entering for a move back to 0.618 (~1.919), the top of the channel. Then we'll see if it can break out and move higher. Despite recent relief from Fed, I see generally bearish conditions (i.e. lower...
Hello Traders,
Hope you all are doing good!!
I expect GBPNZD to go Up after finishing this correction.
Look for your BUY setups.
Please follow me and like if you agree or this idea helps you out in your trading plan.
Disclaimer: This is just an idea. Please do your own analysis before opening a position. Always use SL & proper risk management.
Market...
We expect the price to retest our previous supply zone before bullish movement, otherwise the price might break our supply zone thus bullish movement to take their chances from the second supply zone which is our previous week low, break below the previous low the analysis becomes invalid
9th & 18th January daily key reversal bars dictating strength ahead for several days even weeks as well. 1.9100-9060 demand zone for long, stop loss 1.8950, medium term target: 1.9490. longer term target: 1.9550.
Here we can see on GBPNZD monthly TF a descending triangle which looks likely to break out for a long after retest of the 23.6 Fib. Furthermore, the recent downtrend is testing the 4H down trend the PA broke through last week so looks good for long entry on reject.
I expect a bounce from the upper limit of the channel (green lines).
TP around 1.94500, around 250 pips
GG
P.S.
This is not financial advice of course, just my idea.
GBPNZD - 24h expiry - We look to Buy at 1.9000 (stop at 1.8925)
Previous support located at 1.9050.
Previous resistance located at 1.9150.
Indecisive price action has resulted in sideways congestion on the intraday chart.
Risk/Reward would be poor to call a buy from current levels.
A move through 1.9150 will confirm the bullish momentum.
Our profit targets...
GBPNZD - 24h expiry - We look to Buy at 1.8975 (stop at 1.8900)
Previous support located at 1.9000.
Previous resistance located at 1.9150.
Indecisive price action has resulted in sideways congestion on the intraday chart.
Risk/Reward would be poor to call a buy from current levels.
A move through 1.9150 will confirm the bullish momentum.
Our profit targets...
GBPNZD - 24h expiry - We look to Buy at 1.9025 (stop at 1.8950)
Previous support located at 1.9100.
Previous resistance located at 1.9200.
Price action looks to be forming a bottom.
Risk/Reward would be poor to call a buy from current levels.
A move through 1.9200 will confirm the bullish momentum.
Our profit targets will be 1.9275 and 1.9300...
![GBPNZD: GBPNZD 28-03 [FEB] Analysis - Falling wedge for a 100 pip long](https://s3.tradingview.com/w/wvpmpkZ0_mid.png "GBPNZD 28-03 [FEB] Analysis - Falling wedge for a 100 pip long")
![GBPNZD: GBPNZD 21-27 [JAN] Analysis - Descending Triangle on Monthly TF](https://s3.tradingview.com/m/mVavka7i_mid.png "GBPNZD 21-27 [JAN] Analysis - Descending Triangle on Monthly TF")
