GBP/NZD Long-Term Trend: Bullish
Key Resistance Levels: 2.04362, 2.05207, 2.06000.
Key Support Levels: 2.03619, 2.03078, 2.02373
1-Hr Time Frame:
The price on the higher time frame succeeded to break the bearish trendline to the upside after finding buyers below the support level around the 2.03619 NZD mark. This could lead to a move higher in the coming hours.
GBP/NZD Medium-Term Trend: Bullish
15-Mins Time Frame:
On the lower time frame, the buyers are pushing the price higher is in a new trend where we are clearly in an impulsive wave. A higher highs and lows has been posted which led to a break of the resistance (now support). A lower correction could be seen before a new bullish impulsive wave toward the target profits.
Buy Market Order @ 2.03702
TP 1 @ 2.04362
TP 2 @ 2.05207
Stop Loss @ 2.03048
Trade Safely 🙂