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Pound

GBPCHF: Bullish Move From Key Level 🇬🇧🇨🇭 GBPCHF is trading within a wide horizontal daily zone of demand. Take a look how the price reacted that that area on 1H time frame: first, the price broke and closed above a resistance line of a bullish flag pattern, a double bottom pattern was formed and its neckline was broken then. Chances are high, that we will see a pullback from the underlined structure. Goals will be 1.1295 / 1.132 ❤️Please, support my work with like, thank you!❤️
Long
by VasilyTrader
8
🔥 NEW: GBPNZD 🔥 SWING TRADE 🔥-SL @ 2.0750 🚫 SLO @ 2.0560 ⏳ SSO @ 2.0190 ⏳ TP1 @ 1.9485 (shaving 25%) TP2 @ 1.8875 (shaving 25%) TP3 @ 1.8433 (shaving 25%) TP4 @ 1.7751 (closing ALL Sell Orders) SLO1 @ 1.7590 ⏳ SLO2 @ 1.7190 ⏳ -SL @ 1.7000 🚫 TECHNICAL ANALYSIS: The price of GBPNZD is currently trading at ~2.0415. Overall, the technical analysis for GBPNZD is bearish. The price is trading below the moving averages, the RSI is below 50, and the MACD is crossing below the signal line. This analysis suggests that price action will likely continue to decline in the near term. FUNDAMENTAL ANALYSIS: As of May 26, 2023, the fundamental analysis for GBPNZD is strong — short term — and nearing a solid supply area @ 2.0560. On the one hand, the UK economy is improving, with GDP growth expected to reach 1.2% in 2023. This data supports the strong employment growth and rising wages. However, on the other hand, the UK's trade deficit is widening, and inflation is expected to remain high. In New Zealand, the economy is also growing, and its GDP growth is expected to reach 2.5% in 2023, supported by solid dairy exports. Overall, the fundamental outlook for GBPNZD is weakening. The UK economy shows signs of the widening trade deficit and inflation increasing. As a result, the pound's value is likely to remain under pressure, and the Kiwi dollar is expected to appreciate causing the GBPNZD to be short.
Short
by ProfessorCEWard