GBP/NZD Long – Channel Break Targeting Origin Liquidity + Daily Demand Bounce
Looking to go long on GBP/NZD after a clean technical break from a multi-session descending channel, supported by strong higher timeframe structure.
Daily Chart:
We've established a solid bottom around 2.2131, with two daily candle closes showing strong buyer defense.
Price also tapped into a key daily demand zone at 2.21336 — a well-respected structure level. We're now clearly bouncing off that zone, giving this long setup extra weight from a higher timeframe perspective.
Structure:
The pair has been moving within a descending channel that began at 2.4793. I prefer trading channels back to their origin, where liquidity tends to pool — and that’s our longer-term upside target.
4H Chart:
We just got a strong bullish candle breaking the channel, signaling a potential reversal is in motion.
Trade Thesis:
With a higher timeframe demand bounce + channel break + bullish momentum, this setup is aligned for continuation.
I’m looking for price to work its way back to the top of the channel and eventually toward the origin level near 2.4793.
Target & Risk:
Target: Origin zone near 2.4793
Risk-Reward: 1:1.73
Stop: Just below the breakout candle low and daily demand
Clean multi-timeframe confluence: daily structure, channel break, and bullish pressure off demand.
Looking to go long on GBP/NZD after a clean technical break from a multi-session descending channel, supported by strong higher timeframe structure.
Daily Chart:
We've established a solid bottom around 2.2131, with two daily candle closes showing strong buyer defense.
Price also tapped into a key daily demand zone at 2.21336 — a well-respected structure level. We're now clearly bouncing off that zone, giving this long setup extra weight from a higher timeframe perspective.
Structure:
The pair has been moving within a descending channel that began at 2.4793. I prefer trading channels back to their origin, where liquidity tends to pool — and that’s our longer-term upside target.
4H Chart:
We just got a strong bullish candle breaking the channel, signaling a potential reversal is in motion.
Trade Thesis:
With a higher timeframe demand bounce + channel break + bullish momentum, this setup is aligned for continuation.
I’m looking for price to work its way back to the top of the channel and eventually toward the origin level near 2.4793.
Target & Risk:
Target: Origin zone near 2.4793
Risk-Reward: 1:1.73
Stop: Just below the breakout candle low and daily demand
Clean multi-timeframe confluence: daily structure, channel break, and bullish pressure off demand.
Trade active
Stops moved to BE because....Friday
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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.
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.