After gbpnzd went the other way for us it could be that market is breaking out. However there is lots of news surrounding gbp at the moment so this could fail
Taking into consideration that the GBP is back is where it started when May and brexit came along (In a big fall) most GBP pairs hitting resistance/bouncing off 100/200 EMA, we would most likely see Double bottoms across all GBP pairs before thinking of any reversals.
This is a potential short on the GBPNZD. The daily is testing previous support now resistance. An inside day candle has been printed on the daily at this very nice level so I may go short on further bearish momentum (break of that inside day candle to the downside). Take Profit is a measured move objective into the next level of support.
Only thing to bear in ...
GBP/NZD has supported all the analysis theory and shows good rules of sticking to it, nevertheless it can go either way but currently £100+ on this pair and showing no direction of changing after the confirmation on breaking the old support and could test the new potential support.
What's your thoughts on this pair?
This Forex Pair is featuring for the first time on our TradingView blogs.
Current setup: Price has found weakness after failing at the previous resistance level.
Conclusion: We are short in this Forex pair as this has become a high probability trading opportunity. We will add more short trades if the weakness continues.
Any comments or questions, do not ...
38.2% & POSSIBLE 61.8% Retracement LONG GWAVE.
FIB Retracement Percentage is calculated in a Higher Cartesian and or Euclidean Dimension.
PLEASE ALWAYS WAIT FOR STOCHASTIC CONFIRMATION!!! THANKS
This is a short on the GBPNZD. Price has broken out short of an ascending triangle on the daily and closed. I will now look for a H4 pullback then look for short entries.
GBPNZD 0.06% – On the weekly chart, we can see that GBPNZD 0.06% need more 50 pips to hit a very strong Supply, this supply has created in June 2016 and still valid, it is the first time the price back to this level Since he drops from there. I’ll sell at this supply soon, my first target will be the demand below and the Final target is the demand at the bottom.
So im trading Short for this and in profit now, I though id share my views on its potential TP, from a day chart prospective it still has some push, with the weekley chart it shows good signes from scotastic and RSI towards the bears. If anyone has any questions or think there should be any changes drop us message or comment thank you :)
The British Pound vs. the New Zealand Dollar cross is one of the most volatile one among GBP pairs. The New Zealand Dollar is often viewed as a proxy for Chinese growth and thus have performed well against the Euro in recent years. But on the hand, the British Pound is one of the premier reserve currencies and represents the world's largest financial center.
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