GBPNZD - Is The GBP Strength Coming To An End?
Updated
Analysis:
Bullish Confluences
Bearish Confluences
Stay Safe - The JPI Team
Please feel free to leave any comments you have and like this idea if you agree with us. Any feedback or comments will be read and responded to. We any comments at all so thank you!
Disclaimer:
This does not constitute as financial advise. We are not responsible for any monetary loss that you endure. Trading is hard to be profitable with and we take losses just like everyone else does too. Our ideas won't always be correct which is why we urge you to always do your own analysis first before entering into the market but please feel free to use our analysis to assist you with yours.
Bullish Confluences
- In an upwards trend
- Retest of a key level
- 50% fib retracement touch
- Upwards trendline touch
- GBP is the 2nd strongest major currency whereas the NZD is the 5th strongest major currency
- 25K short position decrease for the GBP
Bearish Confluences
- 30K long position decrease for the GBP
- 3K short position decrease for the NZD
Stay Safe - The JPI Team
Please feel free to leave any comments you have and like this idea if you agree with us. Any feedback or comments will be read and responded to. We any comments at all so thank you!
Disclaimer:
This does not constitute as financial advise. We are not responsible for any monetary loss that you endure. Trading is hard to be profitable with and we take losses just like everyone else does too. Our ideas won't always be correct which is why we urge you to always do your own analysis first before entering into the market but please feel free to use our analysis to assist you with yours.
Trade active
Our entry requirements have been met and our order has been filled. We are long on this pair wanting to see the GBP strength continue and price to head higher.Trade closed: target reached
Trade Closed
(+1.34R) Made
After Trade Comments:
This was another trade that we caught last week which presented itself again this week. Exactly the same setup and the same outcome. Price went into a normal amount of drawdown before then finding support and heading to the upside like we predicted. This was helped due to some worse then expected news that came out for the NZD last night. Sometimes news goes in your favour and sometimes it goes against you. That's just trading and something every trader needs to learn if they want to be profitable. With that being said let's not get too ahead of ourselves with this trade and instead look for the next setup to catch.
Stay Safe - The JPI Team
Disclaimer
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