I have been going over my count once more and I´m not anymore completely convinced that the price will continue upwards immediately.
In fact, GBPAUD and GBPNZD are moving very similar and I have GBPAUD going down at first.
Of course this is no guaranty that both pairs continue do behave similar but it´s a possibility.
For now, I remain neutral and I closed my...
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GBPNZD is in strong bullish trend.
As the market is consistently printing new HHs and HLs.
currently the market is retracing a bit after last HH, which is 50% Fib retracement level and local support as well. if the market successfully sustain this selling confluence the next leg lower could go for new HH.
What you guys think of this idea?
Please, check our technical outlook for GBPNZD.
Time Frame: 9h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is on a crucial zone of supply 2.091.
The above-mentioned technicals clearly indicate the dominance of sellers on the market. I recommend shorting the instrument, aiming at 2.078...
✅GBP_NZD surged again to retest the resistance of 2.0968
But it is a strong key level
So I think that there is a high chance
That we will see a bearish pullback and a move down
SHORT🔥
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GBP/NZD is currently at a very strong resistance zone between 2.09700 and 2.1000. At the same time, it's a rebound zone with a 61% Fibonacci level from the highest peak to the latest low. It has attempted to break through several times but hasn't succeeded so far. I expect it not to break this zone and to descend again to the support zones below at 2.06400 and...
Based on Simple Technical Analysis ( Trendline + Support & Resistance )
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Counter trend opportunity here on this pair, ⚠️Word of Caution⚠️ setting the buy and sell position tools or drawing of direction lines on my chart doesn't mean I opened a position already or fixated on that certain bias, flexibility is also important, it just a forecast,i don't just trade when price hits my levels, I've got rules of engagement. The most important...
My dear friends,
My technical analysis for GBPNZD is below:
The market is trading on 2.0911 pivot level.
Bias - Bearish
Technical Indicators: Both Super Trend & Pivot HL indicate a highly probable Bearish continuation.
Target - 2.0782
Recommended Stop Loss - 2.0977
About Used Indicators:
A pivot point is a technical analysis indicator, or calculations,...
GBPNZD is trading in Bearish trend after breaking its last HL with no divergence at Bottom secondly at 0.618 fib Resistance AND At horizontal resistance and making LH
place Short with risk defined above Last Lower high
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Welcome and thanks for dropping by my post.
It could also possibly be the case of a h&s on the h4...watch the price action as it unfold, be flexible :)
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Seeing a sell opportunity, the pair has been ranging and hasn't really decided long term trend. expecting a drop to one of the TP points. The chart could touch the first tp and reverse to the upside to continue buy trend.
The price perfectly fulfilled my last idea. It hit the target. The market pulled back to resistance after a breakout of the range zone. FX:GBPNZD broke the previous resistance zone, which is the support level now. I expect the market to fall from the resistance zone and the border of the upward channel. On the 4H timeframe, the price is below the key resistance...
