We are currently watching this pair closely. As you can see from a higher time frame, GBPNZD is in a down trend. So we will initially be looking for entries to sell. Zooming into the 4hr chart, we can see that price is retesting a resistance zone at around 1.93900. Reflecting from this, price made a solid pin bar candlestick which closed under our 50 EMA, indicating a continuation of trend. We are now in for profits,
Entry: 1.93350
SL: 1.94150 (80 Pips)
TP: 1.91300 (200 Pips)
Entry: 1.93350
SL: 1.94150 (80 Pips)
TP: 1.91300 (200 Pips)
Comment:
An Update for this pair, we hit our TP of 200 Pips
Trade closed: target reached:
Take Profit Hit