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Gbpnzdshort

GBP/USD Hits Three-Week Low Below 1.2100"GBP/USD extends this week's decline from near 1.2300, touching a three-week low in Asian trading on Thursday, pressured by a stronger US dollar. The pair weakens further below the key 1.2100 level and faces selling pressure. The Relative Strength Index (RSI) on the 4-hour chart drops below 50, and the latest 4-hour candles close below the 100-period and 50-period Simple Moving Averages (SMA), indicating a downtrend. The level at 1.2100 (a psychological threshold) is considered the main support. If buyers fail to defend this level, further losses towards 1.2050 (the recent low) could be witnessed. To attract technical buyers, GBP/USD needs to surpass the resistance zone of 1.2190-1.2200, where the 100-period SMA and the 23.6% Fibonacci retracement level converge. In this scenario, 1.2250 (the 200-period SMA) and 1.2300 (the 38.2% Fibonacci retracement level) could be seen as the next resistance levels. After a sharp decline on Tuesday, GBP/USD rallied back to 1.2200 on Wednesday. However, market caution prevented a sustained recovery. US data released on Tuesday revealed that private sector business activity expanded slightly faster in early October compared to September, with the S&P's global composite PMI improving from 50.2 to 51. While US Treasury bond yields continued to decline, the US dollar benefited from the optimistic PMI data, putting pressure on GBP/USD. In early European trading on Wednesday, US stock index futures traded negatively, and the yield on the 10-year US Treasury note maintained a modest daily increase of around 4.85%, supporting the US dollar. In the latter part of the day, the US New Home Sales data for September will be considered for new momentum. Some policymakers at the Federal Reserve have expressed concerns about the negative impact of high-interest rates on the housing market. Therefore, a significant decline in this data could immediately harm the US dollar. On Thursday, the US Bureau of Economic Analysis will release its initial estimate of third-quarter Gross Domestic Product (GDP) growth.
by Gwen_Humuna
GBPNZD Long Term Selling Trading IdeaOct 12 Hello Traders In This Chart GBPNZD HOURLY Forex Forecast By FOREX PLANET today GBPNZD analysis 👆 🟢This Chart includes_ (GBPNZD market update) 🟢What is The Next Opportunity on CHFJPY Market 🟢how to Enter to the Valid Entry With Assurance Profit This CHART is For Trader's that Want to Improve Their Technical Analysis Skills and Their Trading By Understanding How To Analyze The Market Using Multiple Timeframes and Understanding The Bigger Picture on the ChartS
Short
by ForexPlanet20
GBPNZD ShortOANDA:GBPNZD The GBPNZD currency pair has recently reached a significant trend line that could signal a bearish trend toward specific levels. This development is noteworthy as it may have implications for investors and traders who are tracking the performance of this currency pair. The potential for a bearish trend suggests that there may be a shift in the market dynamics, which could warrant further attention and analysis. As such, it may be advisable for interested parties to monitor the situation closely and stay informed about any further developments that may arise.
Short
by Dr_Candle
GBP/USD Approaches 1.2270 Ahead of PMI DataGBP/USD continues its upward momentum since Thursday, trading above the 1.2270 level in the Asian session on Tuesday. The pair receives support from the US Dollar (USD) adjustment, coupled with improved risk sentiment. Although GBP/USD started higher after testing the 1.2100 level, the Relative Strength Index (RSI) on the 4-hour chart remains below 50, indicating the downward trend persists. If the pair closes below 1.2100 in the 4-hour timeframe, sellers might take action. In this scenario, the 1.2050 level (the recent low) could be the next target before 1.2000 (psychological level). On the upside, the 20-period Simple Moving Average (SMA) forms a dynamic resistance at 1.2150, preceding 1.2180 (SMA 100) and 1.2200 (23.6% Fibonacci retracement level of the recent downtrend). Feel free to let me know if you need further assistance or if there's anything specific you'd like to add!
by Gwen_Humuna
2
GBP/USD Dips, Awaits UK CPI DataGBP/USD faced consecutive losses, trading around 1.2160 in Asian markets on Wednesday. Positive US economic data applied pressure. The pair retreated after reaching 1.2200, the 23.6% Fibonacci retracement level, the 50 and 100-day Simple Moving Averages (SMAs) confirming significant resistance. The 4-hour chart's Relative Strength Index (RSI) dropped to 40, indicating accumulating bearish momentum. Immediate support lies at 1.2130 (static level). Closing below it in the 4-hour timeframe could bring further selling pressure, possibly testing temporary support at 1,2100 (static, psychological level) before targeting 1,2050, the recent downtrend's endpoint. If GBP/USD rises above 1,2200 and confirms it as support, it could aim higher towards 1,2250 (static) and 1,2300 (38.2% Fibonacci retracement level). The pair reversed its trend after breaching 1,2200 on Monday, dropping to the 1.2150 region on Tuesday. Short-term technical outlook indicates bearish momentum and potential additional losses if the 1,2130 support fails. US Retail Sales data for September is on the economic horizon, with a negative surprise possibly impacting the USD. However, GBP/USD might stand firm unless a significant, positive market sentiment change occurs. Stay tuned for updates on this evolving situation.
by Gwen_Humuna
1
GBPNZD Long Term Selling Trading IdeaHello Traders In This Chart GBPNZD HOURLY Forex Forecast By FOREX PLANET today GBPNZD analysis 👆 🟢This Chart includes_ (GBPNZD market update) 🟢What is The Next Opportunity on CHFJPY Market 🟢how to Enter to the Valid Entry With Assurance Profit This CHART is For Trader's that Want to Improve Their Technical Analysis Skills and Their Trading By Understanding How To Analyze The Market Using Multiple Timeframes and Understanding The Bigger Picture on the ChartS
Long
by ForexPlanet20
GBPNZD is making bearish flagTrading Idea: GBPNZD Bearish Flag Breakdown Overview: GBPNZD appears to be forming a bearish flag pattern on the daily chart. The price action has been following a distinct downward trend, forming the flagpole, followed by a period of consolidation, which is characteristic of flag patterns. This analysis suggests a potential trading opportunity if the flag pattern breaks down. Analysis: Pattern Type: Bearish Flag Flagpole: Flag Length: Support Levels: Resistance Levels: Trade Plan: Entry Point: Consider entering a short position if GBPNZD breaks below the lower trendline of the flag pattern. Stop-Loss: Place a stop-loss above the upper trendline of the flag pattern or a level that suits your risk tolerance. Take-Profit: Set a take-profit target based on your risk-reward ratio and analysis of support levels or prior price action. Risk Management: Calculate your position size based on your risk tolerance and the distance between your entry and stop-loss levels. Time Frame: This trade idea is based on the daily chart, but consider adjusting your time frame to suit your trading style. Important Notes: Trading involves risks, and this idea is not guaranteed to be successful. Use proper risk management. Monitor the trade for any changes in market conditions or news events that may impact the trade. Always have an exit strategy in case the trade does not go as planned. Follow Button: Click the "Follow" button to receive updates on this trading idea and any potential adjustments.
Short
by AshrafAliFX
1
GBPNZD Long Term Buying Trading IdeaHello Traders In This Chart GBPNZD HOURLY Forex Forecast By FOREX PLANET today GBPNZD analysis 👆 🟢This Chart includes_ (GBPNZD market update) 🟢What is The Next Opportunity on CHFJPY Market 🟢how to Enter to the Valid Entry With Assurance Profit This CHART is For Trader's that Want to Improve Their Technical Analysis Skills and Their Trading By Understanding How To Analyze The Market Using Multiple Timeframes and Understanding The Bigger Picture on the ChartS
Long
by ForexPlanet20
GBPNZD - Short from bearish order block ✅Hello traders! ‼️ This is my perspective on GBPNZD. Technical analysis: Here we are in a strong bearish market structure from 4H timeframe perspective, so I am looking for short. I want price to continue the retracement in order to fill the imbalance higher and then to reject from bearish order block. Fundamental analysis: Upcoming week on Wednesday we have important news on NZD, Cash Rate will be released. A positive result will support our analysis. Like, comment and subscribe to be in touch with my content!
Short
by Snick3rSD
2
GBPNZD Long Term Buying Trading IdeaHello Traders In This Chart GBPNZD HOURLY Forex Forecast By FOREX PLANET today GBPNZD analysis 👆 🟢This Chart includes_ (GBPNZD market update) 🟢What is The Next Opportunity on CHFJPY Market 🟢how to Enter to the Valid Entry With Assurance Profit This CHART is For Trader's that Want to Improve Their Technical Analysis Skills and Their Trading By Understanding How To Analyze The Market Using Multiple Timeframes and Understanding The Bigger Picture on the ChartS
Long
by ForexPlanet20
GBPNZD - Short after filling the imbalance ✅Hello traders! ‼️ This is my perspective on GBPNZD. Technical analysis: Here we are in a bearish market structure from 4H timeframe perspective, so I am looking for short. I want price to continue the retracement to fill the imbalance higher and then to reject from bearish order block + institutional big figure 2.13000. Fundamental analysis: Upcoming week on Wednesday will be released monthly GDP on GBP, Pay attention to the result in order to validate the analysis. Like, comment and subscribe to be in touch with my content!
Short
by Snick3rSD
What Next 2.10 Looks Crucial?This currency pair has caught my attention due to its recent breakthrough of the 2.10 resistance zone last week, propelling it upwards to around 2.13. But what lies ahead? Initially, it's worth noting that on the lower timeframe charts, we're witnessing a significant overbought condition. This hints at an impending retracement. In fact, signs are already emerging that a downward move towards the 2.10 resistance-turned-support level could be in the works. I've taken the initiative to initiate a short position based on this outlook.(see image below) While the potential for a more substantial correction can't be dismissed, I'm particularly keen to observe how price behaves at the crucial 2.10 level. This resembles a situation we encountered at 2.05 earlier, where after an initial breakout towards 2.10 (for a detailed breakdown, refer to my previous post from about a month ago), a subsequent retracement occurred, finding firm support at 2.05.(see image below) Should we begin to notice the establishment of a support structure on the lower timeframes (4-hour and 1-hour) in the vicinity of 2.10, akin to what transpired around 2.05, it sets the stage for a potential new bullish leg, targeting the 2.175 region that marked the high during the rapid rally of 2020. For a more pronounced correction to materialize, my criteria involve a decisive momentum break beneath the 2.10 level, followed by a weekly close below this threshold. Should these conditions be met, my sights are set on 2.05 or potentially lower. Currently, a short-term SELL trade has been triggered at 2.125. My initial target stands at 2.10, with a pivotal breakeven point at 2.116. At this juncture, I'll close 50% of the position and adjust the stop loss to match the entry price. The trajectory of a deeper correction or the potential onset of the next bullish phase hinges on how price responds in the vicinity of 2.10. Hope you enjoyed the read
Short
by TheFxAce
25
GBPNZD - Expect retracement ✅Hello traders! ‼️ This is my perspective on GBPNZD. Technical analysis: Here we are in a strong bullish market structure from 4H timeframe perspective, so I am looking for long. Firstly I expect price to make a retracement in order to fill imbalances and only after that to reject from bullish order block + institutional big figure 2.10000. Fundamental analysis: Upcoming week on Wednesday will be released Cash Rate on NZD, also yearly CPI on GBP. Pay attention to the results in order to validate the analysis. Like, comment and subscribe to be in touch with my content!
Long
by Snick3rSD