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GBP/NZD Potential Upward Movement

GBP/NZD Long-Term Trend: Bullish

Key Resistance Levels: 1.9751, 1.9801, 1.9824

Key Support Levels: 1.9655, 1.9566, 1.9530

Daily Chart:

The price on the daily time frame succeeded to change direction after failing to cross and close below the daily support around the 1.9190 USD mark. The price started to trend to the upside by posting higher highs and lows and broke recently the 1.9655 USD level. we are in the middle of a correction and a rally might be seen after it ends.

GBP/NZD Medium-Term Trend: Bullish

1-hour Chart:

On the 1-hour time frame the price is trading near the strong support and inside a wedge formation. A bullish candlestick with a big body is posted which shows that buyers are in control, and it could lead to a move higher toward the target profit.

Signal Idea:

Buy Market Order @ 1.9668

TP 1 @ 1.9749

TP 2 @ 1.9801

Stop Loss @ 1.9630

Trade Safely 🙂

About Joe Damien

Joe is a proven Forex analyst and manual trader with 6 years of full-time trading experience. He is a swing trader that relies on price action, market structure and Fibonacci retracement. His two most successful pairs are CHF/JPY, CAD/JPY, but his expertise allows him to profit on any asset or pair.

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