GBPNZD H4 | Potential bullish breakoutGBP/NZD is approaching an overlap resistance resistance and the momentum could potentially carry price up to the take profit target.
Buy entry is at 2.06497 which is an overlap resistance and a potential bullish breakout level.
Stop loss is at 2.05330 which is a level
that sits under an overlap support.
Take profit is at 2.07850 which is a pullback resistance that aligns close to the 78.6% Fibonacci retracement level.
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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 72% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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Losses can exceed deposits.
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