Gbpnzdlong
HOW TO BUY GBPNZD WITH CONFIRMATIONLast week GBPNZD reached a weekly support cluster and we saw the loss of price momentum. Currently, the price failed to make a lower low and it's now consolidating on the level.
Once you zoom in the 1H timeframe you'll notice bullish accumulation forming an ascending triangle. Once the price breaks to the upside of the triangle it will be a very nice opportunity to buy on the retest.
GBPNZD - Bullish Bias🇬🇧 GBP - Strong Bullish
1️⃣ Bailey says that the BOE is likely to have to raise its interest rates to combat inflationary pressures over the next 2 to 3 years, even though the economic recovery in the UK is slowing.
2️⃣ Policymaker Michael Saunders reiterated that the central bank will need to raise interest rates next year if growth continues and inflation rates are rising.
3️⃣ The inflation rate for August is expected to pick up amid rising price pressures in both the manufacturing and services sectors.
🇳🇿 NZD - Strong Bearish
1️⃣ A negative market environment can depress high-beta currencies such as the NZD.
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Technical
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The price break the recent resistance.
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Risk to this trade
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Any change in sentiment could turn the pair's direction.
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CAN BULLS TAKE CONTROL OF GBPNZD?Bears recently drove prices from a peak high around 2.0 to 1.93, breaking the uptrend support and subsequently an acting support around 1.96. Within the coming weeks, we expect a retest of the broken structure from either one of the zones highlighted in the chart. Trading is reactive not predictive, use proper risk management and be aware of liquidity hunts.
Wishing y'all a successful trading week ahead.
GBPNZD Swing Long (Higher Timeframe Analysis)If you like this idea, like it and follow me for more.
Colour key: Blue = monthly, Pink = weekly, Grey = daily/4H/1H
If you look at GN on monthly/weekly, you can clearly see it's in an uptrend. I've drawn out multiple supply and demand zones, as well as key levels, from the higher timeframes (see the colour key). I believe we may see a drop to the second-to-bottom blue zone before price reacts to it and flies upwards. My two targets will be the two pink zones above the entry point. I believe price should make it's way up to the first pink zone before a minor correction and ultimately heading further upwards.
Updates to follow, follow me to see them
a simple although risky long setupGBPNZD has experienced drama downfall in the past few days, I expect a correction needed in the current falling wedge alike channel.
it attempted to reach 1.9487 and bounced back up in multiple occasions in the past few hours, which make it a valid support considering it was also strong demand area in the past.
SL: below 1.9487
TP: fib based
RISKY. and I only put a small lot size in. You can consider a lower SL if you believe price will go higher instead of falling further.
GL
GBPNZD on the way moving upI entered a bit late, however the SL should provide some support and finger cross it not be hit. :)
GBPNZD has been lingering around it's weekly base trend line and starting upward move having tested the lows and didn't manage to break below 1.97
I consider this a risky setup so do manage your risk if you agree what I see.
SL: below 1.9744 --> 1.974 is a better setup to be honest. But since I did set it at 1.9744 I'll let it be....
TP: Fib based, NOTE: 1.979 is an important point to either TP or trailing.
GL
GBPNZD signal (LONG)Hello friends.
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Everything on the chart.
open pos: market
target: ±1.978
stop: ~1.96 (depending of ur risk). ALWAYS follow ur RM .
Good luck everyone!
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It's not financial advice.
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GBP/NZD:UPTREND|FIBO PRICE ACTION ANALYSIS+DIVERGENCES|LONG 🔔Previous Idea in Take profit....
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