GBP/NZD Potential Upward Movement

GBP/NZD Long-Term Trend: Bullish

Key Resistance Levels: 1.9391, 1.9443, 1.9600

Key Support Levels: 1.9319, 1.9207, 1.9123

Daily Chart:

The price on the higher time frame was in a clear downtrend before posting a double bottom near the strong support around the 1.9207 USD level. The market changed direction and now it is trending to the upside.

GBP/NZD Medium-Term Trend: Bullish

4-hour Chart:

On the 4-hr time frame, the price is trading above the resistance at 1.9319 USD mark where we expect for a sideways movement before rallying all the way up toward the target profit.

Signal Idea:

Buy Limit Order @ 1.9320

TP 1 @ 1.9384

TP 2 @ 1.9443

Stop Loss @ 1.9295

Trade Safely 🙂