GBPNZD reached potential major support zone.
We have a nice risk reward ratio and a strong trendline which is going upwards.
Please be careful and wait for candle rejection and a move upwards, GBP is so week this days.
If its closing under our support and our trendline then don´t get in.
GBP NZD potential Breakout
GBP is Toast , but the NZD are feeling the heat from the US and China trade stand off .
I see the US and China trade deal being sorted before GBP is
Look for signs of a potential breakout
I HAVE SO MANY REASONS IM GOING LONG ON THIS PAIR LET ME START
FIRST, PRICE HAS RESPECTED THE LOWER TREND LINE FOR MORE THAN 3 TIMES
SECOND , ON THE DAILY TIME FRAME ITS AN ASCENDING TRIANGLE SO GOING LONG MEANS YOU ARE ON THE RIGHT SIDE OF THE WAR
I CAN ALSO SEE STRONG ACCUMULATION HEADING TO RESISTANCE LEVEL WHICH SIGNALS A POTENTIAL BREAKOUT TO HIGHER...
GBPNZD has made a bear top this week which could be the end of 5th wave.
The new 1st down impulse wave could take few weeks to make 1000 pips .
Good luck!
LESS IS MORE!
Trade Alert
GBPNZD is at a very interesting spot right now. The pair is flirting with its short-term upside support line and we are now waiting for GBPNZD to break through one of the highlighted areas, before examining further directional moves.
The only thing that supports GBPNZD from falling straight away, is the fact that the pair is a bit oversold on the...
GBPNZD has a bear signal on weekly chart which now is assumed as a reflection point on the channel.
This is a possible corrective wave with 500-800 pips.
LESS IS MORE!
If NZDCHF presents no trade opportunity or a miss, i'll be watching GBPNZD closely for a LONG opportunity instead. Preferably in the CP DZ.
Note that NZFCHF & GBPNZD is about 55% negatively correlated, hence it may give us a trade alternative.
This could potentially be a 600 pip run but as discussed, always take off your profits as planned. Will be looking for a...
-MONTHLY REJECTED ACTS AS RESISTANCE
-WEEKLY PINK TRENDLINE ACTS AS A RESISTANCE
-BREAK BELOW A DAILT KEY LEVEL OF 1.9787 NOW WE SEE A RESTEST OF THE FLOOR NOW A CEILING
-MA CROSS TO DOWNSIDE
-38.2% FIB RETRACEMENT
Inspired by an indicator I found on stevehopwoodforex.com and the endless possibilities of tradingview.com I came up with this currency strength visualisation concept.
*Please hit the zoom-out button once*
(or more if you're feeling wild)
This may look like a mess, but the last few "bars" on the chart are holding some useful information!
I'm sure I'm not the...
Took a quick trade. I believe this cycle will complete where indicated to complete a zigzag pattern at an equal leg. Been rough so far. We’ll see what happens?
Not much to say, according to this monthly analysis this pair is at key level.
If the the rate news helps we could see the start of a strong pullback/trendchange.
Be prepared to entry because this pair does not wait anybody.
Best regards.
The British Pound vs. the New Zealand Dollar cross is one of the most volatile one among GBP pairs. The New Zealand Dollar is often viewed as a proxy for Chinese growth and thus have performed well against the Euro in recent years. But on the hand, the British Pound is one of the premier reserve currencies and represents the world's largest financial center.
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