GBPNZD / looks good to buy
Given the overall market direction, which remains extremely bullish across multiple timeframes, this trade has a high probability of continuing its upward trajectory.
Looking specifically at the 4-hour timeframe, price initially made a strong push to the downside, retested a key area of interest, yet ultimately closed above critical levels—including the monthly and weekly pivots, Fibonacci levels, and the 50-period moving average—forming a high-confluence zone.
With recent signs of exhaustion, price may once again retest the previous 4-hour resistance zone, as its identified on the chart.
Looking specifically at the 4-hour timeframe, price initially made a strong push to the downside, retested a key area of interest, yet ultimately closed above critical levels—including the monthly and weekly pivots, Fibonacci levels, and the 50-period moving average—forming a high-confluence zone.
With recent signs of exhaustion, price may once again retest the previous 4-hour resistance zone, as its identified on the chart.
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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.