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British Pound / New Zealand Dollar

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GBPNZD trade ideas

GBPNZD Will Go Higher From Support! Long! Please, check our technical outlook for GBPNZD. Time Frame: 30m Current Trend: Bullish Sentiment: Oversold (based on 7-period RSI) Forecast: Bullish The market is on a crucial zone of demand 2.138. The oversold market condition in a combination with key structure gives us a relatively strong bullish signal with goal 2.142 level. P.S The term oversold refers to a condition where an asset has traded lower in price and has the potential for a price bounce. Overbought refers to market scenarios where the instrument is traded considerably higher than its fair value. Overvaluation is caused by market sentiments when there is positive news. Like and subscribe and comment my ideas if you enjoy them!
Long
by SignalProvider
1
GBPNZD Long PositionSince August, price has been consolidating around a significant resistance zone, testing it five times without breaking through. On the sixth attempt, we finally saw a decisive breakout, signaling strong bullish momentum. Currently, price has pulled back to retest that broken resistance, which now aligns perfectly with the 61.8% Fibonacci retracement level a key area for continuation in trending markets. Additionally, price has respected a rising support trendline while simultaneously retesting a broken resistance trendline from below, giving further confluence to this area as a solid demand zone. What strengthens the bullish case even more is the clear formation of an inverted head and shoulders pattern, with the neckline already broken and now being retested. This is a classic reversal signal, and the fact that the retest coincides with multiple technical factors gives us a high level of confidence in a potential bullish continuation.
Long
by Juniorndini
GBP/NZD – Bearish Reversal Opportunity?In this analysis of GBP/NZD, the chart highlights the formation of a Harmonic Bat pattern, with price recently reaching point D and showing rejection at a significant resistance zone. This is a classic reversal setup, suggesting a potential bearish move, especially as the TDGMA indicator signals overbought conditions. 1.Short Position from Point D (Bearish Reversal) Rationale: The Bat pattern at point D offers a high probability for a bearish reversal, especially with confirmation from reversal candlestick patterns or bearish divergences in indicators. Price has already shown signs of rejection, reinforcing the short setup. Entry: Sell after confirmation, around the 2.140 zone. Take Profit (TP): 2.1177 Stop Loss (SL): 2.151 2.Sell After Retest of Resistance (2.1500) Rationale: If price moves back to retest the 2.1500 level after an initial decline, it could offer a controlled-risk selling opportunity. This level may act as resistance and trigger renewed selling pressure. Entry: Sell on retest of resistance at 2.1500 with weakness signals (e.g., reversal candlestick). Take Profit (TP): 2.1177 Stop Loss (SL): 2.16 The Bat pattern indicates a strong likelihood of bearish reversal at point D, making the short strategy a high-probability setup. While selling on retests could also be explored, it presents a slightly lower chance of success but still offers a potential opportunity. As always, keep an eye on lower timeframes for price action confirmation before entering.
Short
by MrVNpt
GBPNZD may come down from the resistance!Based on your analysis of GBPNZD, it appears you expect a bearish move from the current resistance level due to consolidation. Resistance Zone: 2.13723 to 2.13471 Support Zone: 2.10397 to 2.10002 Trading Plan: Entry Point: Sell at : 2.13621, which is near the current resistance. Take Profit : Target : 2.11624, positioned above the support level. Stop Loss : Set at : 2.15618, to protect against unexpected upward movement. This strategy leverages price action around support and resistance, anticipating that the price will reverse from the resistance and move lower towards the support. Just ensure you have solid risk management in place.
Short
by PraveenTrader1
2