GBP/NZD Long-Term Trend: Bullish
Key Resistance Levels: 1.9697, 1.9765, 1.9800
Key Support Levels: 1.9596, 1.9444, 1.9319
The price on the higher time frame has posted a double bottom and managed to rally all the way up after breaking the neckline of this pattern. In addition, the price succeeded to break the 1.9596 USD resistance level, and now we are in a middle of a correction.
GBP/NZD Medium-Term Trend: Bullish
On the 1-hour time frame the pair broke the bullish flag to the upside, and now it is retracing to the highlighted zone. This could lead to a move to the upside in the direction of the main trend toward the mentioned target profit.
Buy Limit Order @ 1.9615
TP 1 @ 1.9697
TP 2 @ 1.9765
Stop Loss @ 1.9583
Trade Safely 🙂