GBPNZD - Post-ECBGenerally I like commodity assets after the election - which can be viewed as contrary to consensus - but GBPNZD should get some help lower after BOE rate cut. I am already in profit and added a second bullet taken this morning. Red lines are entries areas and green and yellow are targets 1 and 2. Trade small and handle drawdowns with proper techniques. See links for trading academy.
GBPNZD
GBP/NZD Broke The Support And Ready To Go Down , Don`t Miss !We have a very good closure below our support and great chance to sell this pair for more 150 pips at least , if we have a daily closure below , it will be a great confirmation to can be sure it will go down more and more
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Disclaimer : This Analysis Can Change At Anytime Without Notice And It Is Only For The Purpose Of Assisting Traders To Make Independent Investments Decisions.
GBPNZD Will Go Up! Buy!
Please, check our technical outlook for GBPNZD.
Time Frame: 12h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is on a crucial zone of demand 2.161.
The oversold market condition in a combination with key structure gives us a relatively strong bullish signal with goal 2.180 level.
P.S
We determine oversold/overbought condition with RSI indicator.
When it drops below 30 - the market is considered to be oversold.
When it bounces above 70 - the market is considered to be overbought.
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GBP-NZD Potential Long! Buy!
Hello,Traders!
GBP-NZD is trading in an
Uptrend along the rising
Support line from where
We are already seeing a
Bullish rebound so we are
Bullish biased and we will
Be expecting a further
Bullish move up
Buy!
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GBP/NZD SHORT FROM RESISTANCE
Hello, Friends!
We are going short on the GBP/NZD with the target of 2.158 level, because the pair is overbought and will soon hit the resistance line above. We deduced the overbought condition from the price being near to the upper BB band. However, we should use low risk here because the 1W TF is green and gives us a counter-signal.
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GBPNZD Potential DownsidesHey Traders, in tomorrow's trading session we are monitoring GBPNZD for a selling opportunity around 2.17 zone, GBPNZD is trading in a downtrend and currently is in a correction phase in which it is approaching the trend at 2.17 support and resistance area.
Trade safe, Joe.
GBPNZD Pushing itself in a buy directionHello Traders
In This Chart GBPNZD 4 HOURLY Forex Forecast By FOREX PLANET
today GBPNZD analysis 👆
🟢This Chart includes GBPNZD market update)
🟢What is The Next Opportunity on EURNZD Market
🟢how to Enter to the Valid Entry With Assurance Profit
This CHART is For Trader's that Want to Improve Their Technical Analysis Skills and Their Trading By Understanding How To Analyze The Market Using Multiple Timeframes and Understanding The Bigger Picture on the Charts
GBP/NZD Hits Highest Level Since 2016: Is a Move Down Ahead?The GBP/NZD is currently testing its highest price in recent years, nearing the significant resistance level of 2.1900. This area has served as a notable barrier since 2016 and often sees increased selling interest. The price action in this zone, combined with the emergence of a harmonic pattern, suggests a potential reversal or correction. Furthermore, recent price movements, particularly the candles from October 30 and 31 breaking below the low of October 29, indicate rising bearish momentum, reinforcing the possibility of selling pressure in the near term.
Bat Harmonic Pattern Structure
A Bat harmonic pattern is developing in the GBP/NZD chart, providing additional reversal signals near historical resistance:
Point X: The starting point of the move, at a previous significant high.
Point A: The bottom of the initial correction.
Point B: The price retracement to the 38.2% level of the XA extension.
Point C: The second correction reaching 88.2% of the AB move.
Point D (Potential Reversal Zone): Near 2.1847, aligning with the 88.6% level of the XA extension and the resistance at 2.1900, indicating an optimal area for potential sell opportunities.
The Bat pattern suggests a crucial resistance level where buyers might struggle, especially considering the proximity to historical highs.
Price Action Analysis and Sell Signals
Recent price action further highlights selling interest:
Selling Pressure at Highs: The October 30 and 31 candles broke below the October 29 low, signalling possible exhaustion of the bullish trend and indicating increased seller interest. This behaviour raises warning signals for a potential short-to-medium-term reversal.
Potential Move Down Ahead
Given the convergence of the harmonic pattern and historical resistance, a short strategy is advisable between 2.1800 and 2.1900. Here are critical points to consider for GBP/NZD:
Potential Sell Zone : The resistance between 2.1800 and 2.1900 represents a prime short zone, combining the D point of the Bat with historical resistance.
Primary Target : The support around 2.1400 corresponds to the B region of the Bat formation, typically the first target when trading harmonic patterns.
Secondary Target : Should a breakout continue, the next significant support is near 2.1000, coinciding with the C level of the Bat formation.
Traders should remain cautious of any breaks above 2.1900, as this could indicate a breakout above a crucial resistance level on the daily chart.
Conclusion
The GBP/NZD pair is in a complex technical setup, presenting potential opportunities for short positions due to the confluence of the Bat harmonic pattern and the historical resistance at 2.1900. With signs of selling pressure evident in the recent price action, especially following the candles on October 30 and 31, traders should closely monitor this region as it may signal the onset of a correction.
Disclaimer:
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GBPNZD | 29.10.2024SELL 2.17700 | STOP 2.18500 | TAKE 2.16700 | During the European session, the pair's quotes grew smoothly and are currently holding around the 2.17700 mark. We expect a corrective downward movement. Some pressure on the pound's position is exerted by statistics on retail price indices. This indicator also indirectly indicates a further easing of inflation risks, allowing the Bank of England to move to a more aggressive reduction in borrowing costs.
GBPNZD: Expecting Bullish Movement! Here is Why:
Remember that we can not, and should not impose our will on the market but rather listen to its whims and make profit by following it. And thus shall be done today on the GBPNZD pair which is likely to be pushed up by the bulls so we will buy!
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GBPJPY THROUGH THE ROOF !!GBP/JPY presents a compelling buy, driven by contrasting central bank policies. The Bank of England’s higher rates lend strength to the pound, while the Bank of Japan’s commitment to low rates continues to weaken the yen. This divergence creates a favorable buying environment, especially as Japan shows no signs of tightening its monetary stance. With additional support from strong technical levels and the UK’s resilient economic indicators, GBP/JPY is well-positioned for potential gains, making now a strategic moment for buyers to capitalize on this opportunity.
GBP/NZD SHORT FROM RESISTANCE
Hello, Friends!
Previous week’s green candle means that for us the GBP/NZD pair is in the uptrend. And the current movement leg was also up but the resistance line will be hit soon and upper BB band proximity will signal an overbought condition so we will go for a counter-trend short trade with the target being at 2.160.
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GBPNZD Pushing itself in a buy directionHello Traders
In This Chart GBPNZD 4 HOURLY Forex Forecast By FOREX PLANET
today GBPNZD analysis 👆
🟢This Chart includes GBPNZD market update)
🟢What is The Next Opportunity on EURNZD Market
🟢how to Enter to the Valid Entry With Assurance Profit
This CHART is For Trader's that Want to Improve Their Technical Analysis Skills and Their Trading By Understanding How To Analyze The Market Using Multiple Timeframes and Understanding The Bigger Picture on the Charts
GBPNZD A Fall Expected! SELL!
My dear followers,
I analysed this chart on GBPNZD and concluded the following:
The market is trading on 2.1630 pivot level.
Bias - Bearish
Technical Indicators: Both Super Trend & Pivot HL indicate a highly probable Bearish continuation.
Target - 2.1480
Safe Stop Loss - 2.1717
About Used Indicators:
A super-trend indicator is plotted on either above or below the closing price to signal a buy or sell. The indicator changes color, based on whether or not you should be buying. If the super-trend indicator moves below the closing price, the indicator turns green, and it signals an entry point or points to buy.
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WISH YOU ALL LUCK
GBPNZD Moving to 2.10 -Great Bearish Trade, Great ROIMorning Trading Family
GBPNZD is setting up for a clean bearish move toward 2.10. If it holds below the recent level, this could be a great trade with solid ROI. Keep it simple—manage risk by placing your stop above the latest high and let the trade play out
Mindbloome Trading
Trade What You See
Eyes on BOE Gov speech It seems that a head and shoulders pattern is forming. If the speech by the Governor of the Bank of England regarding GBP suggests any acceleration in rate cuts, then we should definitely expect the completion of the head and shoulders pattern for this currency pair. In just a few minutes, we will be ready to trade this pair.