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GBP/NZD Potential Upward Movement

GBP/NZD Long-Term Trend: Bullish

Key Resistance Levels: 1.92434, 1.92838, 1.93000.

Key Support Levels: 1.91890, 1.91421, 1.91000.

1-Hr Chart:

The price on the higher time frame managed to break the accumulation phase to the upside where a lower correction has been posted near the area of confluence. This area is made of a strong support and the 50% Fibonacci retracement level. we expect further movement to the upside in the coming hours.

GBP/NZD Medium-Term Trend: Bullish

5-Mins Chart:

On the lower time frame, we can see that the pair posted a 2 legs correction where the market failed to break the bespoke support. Liquidity is brought back and buyers now in control. The price is moving upward and we expect this to continue toward the target profits.

Signal Idea:

Buy Limit Order @ 1.91916

TP 1 @ 1.92423

TP 2 @ 1.92838

Stop Loss @ 1.91746

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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