GBPNZD flase breakout? will it hit 2.4 target from 2015 again?
GBPNZD is currently moving within an upward trend channel and has recently surpassed the channel's resistance, retesting the support level twice. This suggests a bullish momentum with a good risk-to-reward ratio. Making it a potential trade entry point. The only next major resistance level is around the 2.4 mark. (Refer to the weekly chart; the price reached this level in 2015, and the question is whether it will return to this area after 10 years.) let us see...
Note
Note
4 hr channel trend and breakout Note
Looks to be False Breakout let us wait still it hit the SL.Trade active
2.27 looks to be strong support , enter the trade with 2.265 stoploss.Trade closed: stop reached
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.