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Gbpnzdlong

British pound flagging against New Zealand dollar The British pound has gone back and forth during the trading session yet again on Tuesday, as the British pound in general has been trying to find its footing to go higher. With Brexit going on, it’s obvious that there are a lot of issues out there that could throw the British pound around. Against the New Zealand dollar, we are forming another flag, and that flag does of course suggest that we are going to go higher. The 50 day EMA is just below, and it should be noted that the market breaking above the 2.05 level opens up the idea of going towards the 2.15 NZD level. We had recently seen the “golden cross” in this pair, and as the British pound has been showing signs of life against most currencies, it should be no different here either. At this point, it looks as if short-term pullbacks are buying opportunities as the market continues to find plenty of support, especially against the psychologically significant 2.00 NZD level. As soon as there is some type of clarity when it comes to Brexit or perhaps even just the elections in the United Kingdom, this market will probably go much higher as some type of certainty is the only thing the trader seem to care about at this point. In fact, it’s almost as if the result doesn’t matter, just that traders know what they will be dealing with next. At this point, look for value and taken advantage of it as it shows itself being available. On a break above the 2.05 NZD level, I would not only be long of this market, but aggressively so, adding every 100 pips in small increments on the way to the 2.15 NZD level. If the market was to turn around and wipe out the flag down at the 1.93 NZ level, then one would have to think something catastrophic would be coming.
by Forex4you
Call me crazy, later.... GBP/NZD swing trade to the moon!Based on the weekly double bottom that has been pushing price since around 2016, the market has ultimately predicted the out outcome of Brexit, or any positive or negative news that is to come. If we can stay in tune with the weekly formation, price needs to get up to the next weekly selling zone. FX:GBPNZD side note: I did hedge this position with a sell at the top of the weekly zone on the short term reversal, but I can't not buy on the news sell off into liquidity.
Long
by benson21
GBPNZD approaching support, potential for a further rise! GBPNZD approaching support at 1.99260 where it could potentially rise further to 2.05590. *Disclaimer.* Trading leveraged products carries a high level of risk and may result in you losing substantially more than your initial investment. Pepperstone Group Limited is licensed and regulated by the Australian Securities and Investments Commission (AFSL 414530). Pepperstone Limited is authorised and regulated by the United Kingdom Financial Conduct Authority (FRN 684312). This information is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
Long
by Pepperstone
GBPNZD reversed from resistance, potential drop! GBPNZD reversed off its resistance at 2.03165 where it could potentially drop further to 1.99262. *Disclaimer.* Trading leveraged products carries a high level of risk and may result in you losing substantially more than your initial investment. Pepperstone Group Limited is licensed and regulated by the Australian Securities and Investments Commission (AFSL 414530). Pepperstone Limited is authorised and regulated by the United Kingdom Financial Conduct Authority (FRN 684312). This information is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
Short
by Pepperstone
GBPNZD approaching support, potential for a bounce! GBPNZD is expected to drop to 1st support at 1.99260 where it could potentially react off and up to 1st resistance at 2.05590. *Disclaimer.* Trading leveraged products carries a high level of risk and may result in you losing substantially more than your initial investment. Pepperstone Group Limited is licensed and regulated by the Australian Securities and Investments Commission (AFSL 414530). Pepperstone Limited is authorised and regulated by the United Kingdom Financial Conduct Authority (FRN 684312). This information is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
Long
by Pepperstone