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Gbpnzdsell

What Next 2.10 Looks Crucial?This currency pair has caught my attention due to its recent breakthrough of the 2.10 resistance zone last week, propelling it upwards to around 2.13. But what lies ahead? Initially, it's worth noting that on the lower timeframe charts, we're witnessing a significant overbought condition. This hints at an impending retracement. In fact, signs are already emerging that a downward move towards the 2.10 resistance-turned-support level could be in the works. I've taken the initiative to initiate a short position based on this outlook.(see image below) While the potential for a more substantial correction can't be dismissed, I'm particularly keen to observe how price behaves at the crucial 2.10 level. This resembles a situation we encountered at 2.05 earlier, where after an initial breakout towards 2.10 (for a detailed breakdown, refer to my previous post from about a month ago), a subsequent retracement occurred, finding firm support at 2.05.(see image below) Should we begin to notice the establishment of a support structure on the lower timeframes (4-hour and 1-hour) in the vicinity of 2.10, akin to what transpired around 2.05, it sets the stage for a potential new bullish leg, targeting the 2.175 region that marked the high during the rapid rally of 2020. For a more pronounced correction to materialize, my criteria involve a decisive momentum break beneath the 2.10 level, followed by a weekly close below this threshold. Should these conditions be met, my sights are set on 2.05 or potentially lower. Currently, a short-term SELL trade has been triggered at 2.125. My initial target stands at 2.10, with a pivotal breakeven point at 2.116. At this juncture, I'll close 50% of the position and adjust the stop loss to match the entry price. The trajectory of a deeper correction or the potential onset of the next bullish phase hinges on how price responds in the vicinity of 2.10. Hope you enjoyed the read
Short
by TheFxAce
25
GBPNZD - Expect retracement ✅Hello traders! ‼️ This is my perspective on GBPNZD. Technical analysis: Here we are in a strong bullish market structure from 4H timeframe perspective, so I am looking for long. Firstly I expect price to make a retracement in order to fill imbalances and only after that to reject from bullish order block + institutional big figure 2.10000. Fundamental analysis: Upcoming week on Wednesday will be released Cash Rate on NZD, also yearly CPI on GBP. Pay attention to the results in order to validate the analysis. Like, comment and subscribe to be in touch with my content!
Long
by Snick3rSD
GBPNZD Sell Trade: High Probability, 1:6 Risk-Reward Adventure!"Introduction: Hello fellow traders! Today, we are back with an exciting long-term trade opportunity: Sell GBPNZD : 2.09450 Take Profit : 1.99403 Stop Loss : 2.11150. We will exit the trade if the Bank of England (BoE) maintains a hawkish rhetoric without softening. In this article, we will delve into the technical analysis and fundamental factors supporting this trade, all while keeping in mind the timeless wisdom of forex proverbs that guide us towards high probability trades. Technical Analysis: The decision to enter a sell trade at 2.09450 is driven by a compelling technical setup. The price level has consistently shown strong resistance, experiencing multiple rejections. Moreover, when applying Fibonacci Retracement levels from 1.89374 to 2.09450, we anticipate a 50% retracement downward. This enticing setup offers a remarkable 1:6 Risk Reward ratio, enhancing the trade's potential for substantial profit. "The trend is your friend." This age-old saying reminds us to align ourselves with prevailing market trends. As I have already mentioned that the GBP weakens in August 2023, the technical setup for the GBPNZD sell trade complements the broader downtrend, increasing our chances of success. Fundamental Analysis: The prevailing market sentiment suggests the BoE is likely to raise interest rates by 0.25% while signaling an end to their tightening policy. As a result, bearish traders are gearing up to capitalize on this expected scenario. "Trade what you see, not what you think." While expectations may be clear, as traders, we must be adaptable. If the BoE surprises with a more aggressive 0.50% rate hike or maintains their hawkish stance, the British pound could experience a significant surge. Staying open-minded and ready to adjust our strategy ensures we are prepared for all possible outcomes. Economists are raising concerns over downside risks for the British pound. The market may have overestimated the BoE's hawkishness over the past three months, and the UK economy's stagnation presents challenges in a G10 context. "Cut your losses short and let your profits run." As we venture into this trade, we must adhere to this timeless wisdom. If the trade doesn't unfold as expected, we should be ready to exit with minimal losses. Conversely, if conditions align with our analysis, we should let the profits run, maximizing our gains. Conclusion: The GBPNZD sell trade presents an enticing opportunity with its high probability setup and favorable Risk Reward ratio. However, it's essential to stay vigilant and agile, considering both technical and fundamental factors that may influence the trade's outcome. As traders, let us heed the wisdom of forex proverbs, guiding us towards successful and rewarding journeys in the dynamic world of forex trading. Happy trading!
Short
by AhsanTufail
8
Revolt of the colonies - why NZD will triumph over GBPI am splitting the trade into 2 entries: One right here at the current market price and a sell limit order at the high of 2.09000. The balance of power between the former colony and its rulers will shift soon: GBP view: - UK inflation came in lower than expected today. This was also likely because. 1. many leading economic indicators were already hinting at this in advance 2. analysts have been wrong in their forecasts for UK CPI more often in the past. - UK inflation will fall more than the market currently expects in the coming months. -> Most (but not all) of the BOE's priced-in rate hikes will have to be priced out. - Core inflation will remain sticky for now, but will also fall more sharply from Q4 2023 onwards -> Instead of the lavishly priced-in rate hikes, the BOE will tend to cut rates from 2024 onwards -> This will weigh on the GBP - US PMIs were bad this week - UK retail sales came in higher (as I forecasted) than the market expected this week, so I can't rule out a pullback in GBP NZD View: - Inflation data from New Zealand came in higher than expected -> The RBNZ says it has ended its rate hike cycle, but it may be forced to raise rates again in October or November. -> This will ultimately be decided by the NZ jobs data at the beginning of August.
Short
by PrimeTrading
2
Prepare for Action: 1000 Pip Move On The Horizon ??We're approaching a key area on the chart that holds massive potential. It's the Monthly SUPPLY/SELL zone, a zone that emerged in 2020 during the chaos of CV when we witnessed an incredible near 1000 pip spike in just minutes, reaching an astounding 2.17. While revisiting those levels may be unlikely, we have a great short opportunity. Here's what I want to see is a climb towards the Weekly resistance level at 2.10, marked prominently in RED on the chart. This level presents a prime area for considering short positions, although hitting it precisely may not always happen. Timing and adaptability are key. Consequently, my strategy involves keeping an eye out for SELL signals as we edge above 2.09 and incrementally building a short position. The profit potential for this pair is substantial, with an initial target at 2.05, denoted by the green shade. Not only does this level serve as a former weekly resistance, now turned support, but it also possesses the appeal of being a round number. Once we reach 2.05, anticipate a potential bounce towards 2.075, followed by a significant SELL OFF that could drive us towards the 2 handle and even lower. This move has the potential to yield several hundred, if not over a thousand pips. I hope you found this analysis insightful and engaging. If you enjoyed it, I appreciate your support through likes and follows!
Short
by TheFxAce
17
GBPNZD Long Term Trading Idea Hello Traders In This Chart GBPNZD 4 HOUR Forex Forecast By FOREX PLANET today nzdcad analysis 👆 🟢This Chart includes_ (GBPNZD market update) 🟢What is The Next Opportunity on GBPNZD 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.
Long
by forexplanet797
2
GBPNZD - Short active ✅Hello traders! ‼️ This is my perspective on GBPNZD. Technical analysis: As I said in my previous analysis I expect price to make a retracement on daily timeframe, so on 4H we can see that price took buy side liquidity and rejected from bearish order block, so I opened a short position. Fundamental analysis: Upcoming week we have news on GBP. On Wednesday will be released yearly CPI and on Thursday Interest Rate. Pay attention to the results in order to validate the analysis, as these news are one of the most important. Like, comment and subscribe to be in touch with my content!
Short
by Snick3rSD
GBPNZD - Long after filling the imbalance ✅Hello traders! ‼️ This is my perspective on GBPNZD. Technical analysis: Here we are in a bullish market structure from daily perspective, so I am looking for longs. I expect price to continue the retracement to fill that huge imbalance lower and then to reject from bullish order block + institutional big figure 1.99000. Fundamental analysis: Upcoming week on Wednesday we have news on GBP, will be released monthly GDP & on Thursday on NZD will be released quarterly GDP. Pay attention to the results in order to validate the analysis. Like, comment and subscribe to be in touch with my content!
Long
by Snick3rSD
GBPNZD - Long from discount zone ✅Hello traders! ‼️ This is my perspective on GBPNZD. Technical analysis: Here we are in a bullish market structure from 4H timeframe perspective, so I am looking for longs from discount zone. I expect price to continue the retracement to fill the imbalance lower and then to reject from bullish order block + institutional big figure 1.99000. Fundamental analysis: Next week we have news on GBP, on Thursday will be released Interest Rate supported by Bailey speech. The rate is forecasted to increase, this means strength in currency which can support our analysis. Like, comment and subscribe to be in touch with my content!
Long
by Snick3rSD
GBPJPY SETUP Hello guys,As we see gbpjpy is moving bullish and now has reached near to its major daily resistance (167.677 )and there is really good sell opportunity. But as always remember dont enter right now wait until it gives confirmation on daily time frame which i think most probably it will give us at the end of this week or the start of next week than you can enter sell and you can get atleast 300+ pips . Enjoy the profit if you are having any difficulty let us know we will be happy to help you
Short
by ForexExpertt
GBPNZD - Expect retracement ✅Hello traders! ‼️ This is my perspective on GBPNZD. Technical analysis: Here we are in a bullish market structure from 4H timeframe perspective, so I am looking longs, but for now I expect a retracement to till the imbalances lower. As well we have a normal divergence which indicates bearish price action. Fundamental analysis: Wednesday on 5th of April will be released Official Cash Rate on NZD, which was forecasted to increase by 0.25%, this means strength in currency which could support our move. Like, comment and subscribe to be in touch with my content!
Short
by Snick3rSD