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GBPNZD - Strong Resistance 🦾
British Pound / New Zealand Dollar
Short
GBPNZD - Strong Resistance 🦾
By TheSignalyst
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May 29, 2023
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May 29, 2023
Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.
on WEEKLY:
Left Chart
GBPNZD is sitting around a strong weekly resistance in green, so we will be looking for sell setups on lower timeframes.
on H4:
Right Chart
GBPNZD has been overall bullish medium-term. However, it is diving inside the weekly resistance.
🏹
For the bears to take over,
for a potential shift in momentum, we need a break below the last low in gray.
Meanwhile, GBPNZD can still trade higher inside the weekly resistance or even break it upward.
📚
Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
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