Potential buy here on the break of the daily resistance but only if we close above which at the moment we are not doing!
Looking to fill this wick tomorrow.
Hello Traders!
Today GBP/NZD has tested and rejected the downtrend trendline, which has acted as the resistance. Price has found the top at 1.9760 and slowly started to move down. Recently we shared an analysis for the EUR/GBP currency pair where GBP is expected to get weak against the EUR. This analysis corresponds to the GBP weakness, but this time against the...
1. THE RED LINE: this is the line on which the price has been reacting and now is acting as a resistance line.
2. THE PURPLE LINE: lont-term support and resistance line which is acting as resistance.
3. THE YELLOW LINE: the most important trend line that is been touched for the 3rd time since March 9th 20.
4. EMA 200: if we look at the daily timeframe, the chart...
GBP_NZD HAD A BREAKOUT.
Wait for it to be confirmed on the daily and ONLY then start looking at the longs.
Head and Shoulders pattern played out well.
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H4 - Bullish trend pattern followed by double wave correction.
Bullish hidden divergence, most recent downtrend line breakout.
Expecting the price to continue higher further until the strong support zone holds.
