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GBP/NZD Potential Upward Movement

GBP/NZD Long-Term Trend: Bullish

Key Resistance Levels: 1.9822, 1.9857, 1.9900

Key Support Levels: 1.9764, 1.9670, 1.9662

Daily Chart:

The price on the daily time frame is trending to the upside where it posted higher highs and lows. the price succeeded to break the daily resistance (now support) around the 1.9764 USD, and it retraced to it. We expect further movement to the upside in the coming hours.

GBP/NZD Medium-Term Trend: Bullish

1-hour Chart:

On the 1-hour time frame, the price succeeded to break the bullish flag to the upside with the help of a double bottom. We expect a lower correction to the neckline of this pattern before a move all the way up to the target profit.

Signal Idea:

Buy Limit Order @ 1.9773

TP 1 @ 1.9827

TP 2 @ 1.9857

Stop Loss @ 1.9746

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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