GBP/NZD: let's take profit occur before buying again
With strong bullish momentum, GBP/NZD remains attractive for long positions. Fundamentals favor the GBP over the NZD, while technicals suggest room for further upside.
Fundamentals:
- GBP Strength: Hawkish Bank of England and resilient UK economy.
- NZD Weakness: Recession in New Zealand and dovish RBNZ policy weigh on the NZD.
Trade Idea
- Buy Zone: 2.1945-2.2200. This level corrispond to 0.5 Fibo and also 4h demand.
- Targets: 2.2440, then 2.2800.
- Stop Loss: Below 2.1800.
Important: enter just in case of rejection! it means that price will need to go in the buy zone area and then have a strong upside (CHOC, COS on lower TF).
If you follow me, you will receive updates so you know when and where I enter, close, TP.
Fundamentals:
- GBP Strength: Hawkish Bank of England and resilient UK economy.
- NZD Weakness: Recession in New Zealand and dovish RBNZ policy weigh on the NZD.
Trade Idea
- Buy Zone: 2.1945-2.2200. This level corrispond to 0.5 Fibo and also 4h demand.
- Targets: 2.2440, then 2.2800.
- Stop Loss: Below 2.1800.
Important: enter just in case of rejection! it means that price will need to go in the buy zone area and then have a strong upside (CHOC, COS on lower TF).
If you follow me, you will receive updates so you know when and where I enter, close, TP.
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If you want to learn about trading, we have a telegram group. Join us here: t.me/+vT_3XCSL6uI1ZmU8
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