GbpNzd could rise and test 2.12 resistance (1:3 R:R)
Updated
Since the beginning of the year, GBP/NZD has been on an upward trajectory, making higher lows and higher highs on the daily chart.
Last week, the pair briefly dropped below support, but this was a false break, strongly reversed by Friday's price action.
Currently, a new higher low seems to be forming.
In my opinion, the pair will continue its upward movement and test the previous high around 2.12.
My strategy is to buy on dips against the recent low, aiming for a 1:3 risk-to-reward ratio.
Last week, the pair briefly dropped below support, but this was a false break, strongly reversed by Friday's price action.
Currently, a new higher low seems to be forming.
In my opinion, the pair will continue its upward movement and test the previous high around 2.12.
My strategy is to buy on dips against the recent low, aiming for a 1:3 risk-to-reward ratio.
Comment
We now have a clear break above the resistance.GbpNzd is eyeing 2.12 target at this moment
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