Good day Traders !! On this multi-timeframe analysis we will make a full breakdown of this pair.
Monthly : We have an "M" formation and we do expect a retracement to the neckline which is in confluence with the FIB level 0.618 .
Weekly : Wa are currently in an acsending channel and we are creating an overextended W formation and we expect price to move higher. .
Daily : "W" Formation completed after the retest of the neckline and we expect a continuation to the upside .
COT : Institution have been Increasing net positions in GBP since they added more than 6700 long positions and closed to 4600 Short position during the last report.
From an NZD perspective we are looking at a steady NZD against a strong GBP on the short term .
8H: Bullish environment . we are printing HH and HLs.
MACD: Bullish environment
EMAs : Cut for long
We have two trading setups with two potential targets in the mid-long term.
Now if you enjoyed this analysis smash that like button and share. If you have a different opinion please leave a comment below as I would love to get more insights and ideas. I also linked my previous idea about this asset. Let me know in the comment below which pair you'd like me to cover in my next analysis.
Trade safe !!!
Monthly : We have an "M" formation and we do expect a retracement to the neckline which is in confluence with the FIB level 0.618 .
Weekly : Wa are currently in an acsending channel and we are creating an overextended W formation and we expect price to move higher. .
Daily : "W" Formation completed after the retest of the neckline and we expect a continuation to the upside .
COT : Institution have been Increasing net positions in GBP since they added more than 6700 long positions and closed to 4600 Short position during the last report.
From an NZD perspective we are looking at a steady NZD against a strong GBP on the short term .
8H: Bullish environment . we are printing HH and HLs.
MACD: Bullish environment
EMAs : Cut for long
We have two trading setups with two potential targets in the mid-long term.
Now if you enjoyed this analysis smash that like button and share. If you have a different opinion please leave a comment below as I would love to get more insights and ideas. I also linked my previous idea about this asset. Let me know in the comment below which pair you'd like me to cover in my next analysis.
Trade safe !!!
