GBP/NZD Potential Upward Movement

GBP/NZD Long-Term Trend: Bullish

Key Resistance Levels: 2.03153, 2.04308, 2.05401.

Key Support Levels: 2.01870, 2.01409, 2.01042.

1-Hr Frame:

The price on the higher time frame is in a clear upward movement where we have seen already higher highs and lows above the accumulation phase. The market might be inside a bullish channel formation where it could be pushed all the way up by buyers toward the higher end of this pattern.

GBP/NZD Medium-Term Trend: Bullish

5-Mins Time Frame:

On the lower time frame, the market succeeded to break the descending trendline to the upside after finding buyers below the 2.01831 NZD mark. Big bullish bodied bars can be seen showing that the buyers are in control and might push the price again to the upside in the same direction of the main trend.

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Buy Market Order @ 2.01985

TP 1 @ 2.03133

TP 2 @ 2.04308

Stop Loss @ 2.01603

Trade Safely 🙂