GPBNZD Weekly NEEDS TO PULL BACK SOON!!!GBPNZD
Has been bullish for 28 days without any type of healthy pullback, we know what happens next. there are multiple strong confluences around 2.14794 - 2.14936
Confluences
has moved 867 pips in 24 days has found resistance.
Has been bullish for 28 days is currently struggling to close above 2.1483.
There is a Trendline from march 2020 which it is currently reacting off.
It is reacting off a rejection point 2.14775
Rejecting off -0.27 Fibonacci target
GBPNZD Daily TF
2.12389 - 2.12118 is my area of interest where think GBPNZD will pull back to which works out
230/260 pips then we should see an reaction from that area
GPBNZD 4Hr TF
Reasons to turn bearish
Currently struggling to break 2.14831 and close above.
Triple tap.
Nice 4hr rejection candlestick.
Moved 800 pips which means there needs to be a pull back nothing keeps soaring without a pullback.
My area of interest is 2.12389 - 2.12118 is where I expect to see a pull back to and we should see an reaction.
GBPNZD 1Hr TF
Confluences
1hr candlestick rejection
Triple tap
rejecting off 0.786
Struggling to close above 2.14831
Gpbnzdshort
Selling a GBPNZD rally.GBPNZD - Intraday - We look to Sell at 1.9100 (stop at 1.9220)
Previous support located at 1.9000.
Previous resistance located at 1.9050.
We expect a reversal in this move.
Risk/Reward would be poor to call a sell from current levels.
A move through 1.9000 will confirm the bearish momentum.
Our profit targets will be 1.8850 and 1.8825
Resistance: 1.9050 / 1.9100 / 1.9200
Support: 1.9000 / 1.8950 / 1.8850
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SELL GBP/NZD ON 30MAnticipating shift in trend downwards as price action demonstrates a strong momentum swing down. Additionally, all requirements for a valid K2 Trading Strategy entry are present providing additional confirmation for my idea
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