GBPNZD Analysis: Waiting for Key Closes
From a swing perspective, GBPNZD is a no-trade for now, with a bias still leaning bullish. The higher timeframes (daily) show a deeper pullback into the previous higher high, indicating we may be in a consolidation phase.
If today's daily close is below 2.17900, we could see a deeper pullback toward the 2.14900 region before a potential buy opportunity. This pullback could offer a solid 5:1 risk/reward if we enter once price begins to form a new higher high.
For confirmation of bullish momentum, we’d need to see a daily close above 2.18783 today. This would signal strong upward momentum and give us a clearer entry for the next leg up.
Patience is key, as we need confirmation before entering buys. Keep an eye on these levels!
From a swing perspective, GBPNZD is a no-trade for now, with a bias still leaning bullish. The higher timeframes (daily) show a deeper pullback into the previous higher high, indicating we may be in a consolidation phase.
If today's daily close is below 2.17900, we could see a deeper pullback toward the 2.14900 region before a potential buy opportunity. This pullback could offer a solid 5:1 risk/reward if we enter once price begins to form a new higher high.
For confirmation of bullish momentum, we’d need to see a daily close above 2.18783 today. This would signal strong upward momentum and give us a clearer entry for the next leg up.
Patience is key, as we need confirmation before entering buys. Keep an eye on these levels!
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.