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Gbpnzdsignal

GBP/USD Extends Gains Above 1.2150 Level"In the US trading session, GBP/USD rose to its highest level since last Wednesday, surpassing the 1.2170 mark. The pair was supported by a weaker US dollar on Monday, as market participants awaited US employment data, as well as the Fed and BoE meetings. The Relative Strength Index (RSI) on the 4-hour chart remained below 50, and GBP/USD closed the last 4-hour candle below the 20-period Simple Moving Average (SMA), indicating the downtrend is still intact. On the flip side, 1.2075 (a static level) is considered a temporary support before 1.2050 (the recent low) and 1.2000 (a psychological level). The 50-period SMA formed dynamic resistance at 1.2140, ahead of 1.2180 (the 100-period SMA) and 1.2200 (the 23.6% Fibonacci retracement level, and the 200-period SMA).
by Gwen_Humuna
1
EUR/GBP Extends Gains Near 0.8720 Ahead of German Data"EUR/GBP has continued its upward trend for the second consecutive day, trading near the 0.8720 level in early European trading on Monday. The currency pair received support ahead of significant economic data releases from Germany. However, preliminary Gross Domestic Product (GDP) data for Germany is expected to show a 0.3% decline for the quarter, with a 0.7% year-on-year decrease, compared to a 0.2% decline in the previous report. Additionally, initial forecasts for the Consumer Price Index (MoM) indicate a decrease of 0.2%, down from the previous 0.3%. Furthermore, the Euro weakened following the European Central Bank's (ECB) decision to maintain the deposit interest rate at 4.0%, reflecting concerns about the deteriorating economic outlook in the Eurozone. ECB President Christine Lagarde is navigating a delicate balance, steering the central bank through a challenging economic landscape. Maneuvering between a weakening economy and strong inflationary pressures is no easy task. With the increasing complexity of monitoring the Middle East crisis, relying solely on data seems unwise. On the other hand, the British Pound (GBP) may face challenges as traders adopt a cautious stance ahead of the Bank of England's (BoE) policy meeting scheduled for Thursday. Many predictions suggest that the central bank will maintain its current interest rate at a 15-year high of 5.25% due to growing concerns about economic recession. The UK economy is feeling the strain due to high-interest rates, adding to the challenges posed by persistent inflation. Economic data indicates significant declines in various sectors, coupled with high inflation, putting additional pressure on household budgets.
by Gwen_Humuna
GBP/USD Hits Three-Week Low Below 1.2100"GBP/USD extends this week's decline from near 1.2300, touching a three-week low in Asian trading on Thursday, pressured by a stronger US dollar. The pair weakens further below the key 1.2100 level and faces selling pressure. The Relative Strength Index (RSI) on the 4-hour chart drops below 50, and the latest 4-hour candles close below the 100-period and 50-period Simple Moving Averages (SMA), indicating a downtrend. The level at 1.2100 (a psychological threshold) is considered the main support. If buyers fail to defend this level, further losses towards 1.2050 (the recent low) could be witnessed. To attract technical buyers, GBP/USD needs to surpass the resistance zone of 1.2190-1.2200, where the 100-period SMA and the 23.6% Fibonacci retracement level converge. In this scenario, 1.2250 (the 200-period SMA) and 1.2300 (the 38.2% Fibonacci retracement level) could be seen as the next resistance levels. After a sharp decline on Tuesday, GBP/USD rallied back to 1.2200 on Wednesday. However, market caution prevented a sustained recovery. US data released on Tuesday revealed that private sector business activity expanded slightly faster in early October compared to September, with the S&P's global composite PMI improving from 50.2 to 51. While US Treasury bond yields continued to decline, the US dollar benefited from the optimistic PMI data, putting pressure on GBP/USD. In early European trading on Wednesday, US stock index futures traded negatively, and the yield on the 10-year US Treasury note maintained a modest daily increase of around 4.85%, supporting the US dollar. In the latter part of the day, the US New Home Sales data for September will be considered for new momentum. Some policymakers at the Federal Reserve have expressed concerns about the negative impact of high-interest rates on the housing market. Therefore, a significant decline in this data could immediately harm the US dollar. On Thursday, the US Bureau of Economic Analysis will release its initial estimate of third-quarter Gross Domestic Product (GDP) growth.
by Gwen_Humuna
GBP/USD Approaches 1.2270 Ahead of PMI DataGBP/USD continues its upward momentum since Thursday, trading above the 1.2270 level in the Asian session on Tuesday. The pair receives support from the US Dollar (USD) adjustment, coupled with improved risk sentiment. Although GBP/USD started higher after testing the 1.2100 level, the Relative Strength Index (RSI) on the 4-hour chart remains below 50, indicating the downward trend persists. If the pair closes below 1.2100 in the 4-hour timeframe, sellers might take action. In this scenario, the 1.2050 level (the recent low) could be the next target before 1.2000 (psychological level). On the upside, the 20-period Simple Moving Average (SMA) forms a dynamic resistance at 1.2150, preceding 1.2180 (SMA 100) and 1.2200 (23.6% Fibonacci retracement level of the recent downtrend). Feel free to let me know if you need further assistance or if there's anything specific you'd like to add!
by Gwen_Humuna
2
GBP/USD Dips, Awaits UK CPI DataGBP/USD faced consecutive losses, trading around 1.2160 in Asian markets on Wednesday. Positive US economic data applied pressure. The pair retreated after reaching 1.2200, the 23.6% Fibonacci retracement level, the 50 and 100-day Simple Moving Averages (SMAs) confirming significant resistance. The 4-hour chart's Relative Strength Index (RSI) dropped to 40, indicating accumulating bearish momentum. Immediate support lies at 1.2130 (static level). Closing below it in the 4-hour timeframe could bring further selling pressure, possibly testing temporary support at 1,2100 (static, psychological level) before targeting 1,2050, the recent downtrend's endpoint. If GBP/USD rises above 1,2200 and confirms it as support, it could aim higher towards 1,2250 (static) and 1,2300 (38.2% Fibonacci retracement level). The pair reversed its trend after breaching 1,2200 on Monday, dropping to the 1.2150 region on Tuesday. Short-term technical outlook indicates bearish momentum and potential additional losses if the 1,2130 support fails. US Retail Sales data for September is on the economic horizon, with a negative surprise possibly impacting the USD. However, GBP/USD might stand firm unless a significant, positive market sentiment change occurs. Stay tuned for updates on this evolving situation.
by Gwen_Humuna
1
GBPNZD Long Term Buying Trading IdeaHello Traders In This Chart GBPNZD HOURLY Forex Forecast By FOREX PLANET today GBPNZD analysis 👆 🟢This Chart includes_ (GBPNZD market update) 🟢What is The Next Opportunity on CHFJPY 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 ForexPlanet20
2
GBPNZD Long Term Buying Trading IdeaHello Traders In This Chart GBPNZD HOURLY Forex Forecast By FOREX PLANET today GBPNZD analysis 👆 🟢This Chart includes_ (GBPNZD market update) 🟢What is The Next Opportunity on CHFJPY 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 ForexPlanet20
GBPNZD At the moment, I think it will be too soon for me to say there would be a reversal or a continuation, however a breakout on either side is what I'd love to see before taking a position. A break above the and its retest, 2.04919 I will go long A break below the and its retest, 2.04036 I will go short. Until then, fingers crossed Disclaimer: All trade ideas are given for educational purposes and should not be treated as an investment advice, hence do your due diligence. Past results does not guarantee future results
by Mbjoey
GBPNZD Long Term Buying Trading IdeaHello Traders In This Chart GBPNZD HOURLY Forex Forecast By FOREX PLANET today GBPNZD analysis 👆 🟢This Chart includes_ (GBPNZD market update) 🟢What is The Next Opportunity on CHFJPY 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 ForexPlanet20
GBPNZD Analysis. swing trade signal!!!Hello everyone, i want share my trade idea about GBPNZD. Picture is simple, after strong uptrend we see some downside movement which is not pretty strong, its looks like correction, trend is going up at higher timeframe and came back for retest daily support. For my entry point i used my Fibonacci tool which showed me good points of entry and first point of entry is at daily support. At marked point it showed me some strong candle confirmation but it came down, but with my strategy the picture gave me long entry point. Here is my setup. Open position - 2.094 Stop loss - 2.07 Take profit N/A ( if i will be right i will follow with trail stop loss) Gud luck everyone!! manage your risk!!!
Long
by elmakacho
2
GBPNZD, ripe to short to the next significant levelThe GBPNZD was rejected by the upper trendline of the ascending channel on 21st August, 2023. made a pull back to the 2.13930 support. Price is currently being resisted by the EMA-50 on the 4HR time frame. A break below the EMA-50 could push the price down to ultimately re-test the EMA-200 support at 2.10941. On the other hand, the fibo retracement could pull price above to 2.14605 resistance entry where the price can have a significant short.
Short
by AbeikuGlobal_FX
1
GBPNZD ____ INCOMING BEARISH MOVEHello Traders, GBPNZD has been heavily bullish and with this bullishness, it created imbalances which can also be referred to as price inefficiency which would be made efficient or rebalanced in the future. Last week, there was a bearish CHOCH on the daily timeframe which indicates a shift from bullish to bearish. Could this mean that price is ready to rebalance the inefficiencies? I don't know but the probabilities are positive. I will be waiting to see if price will trade into the daily supply orderblock. When this happens, I will go into the 1hour timeframe to see if there will be a shift in structure to go short. If I don't see, I don't trade. Price might not get to the order block due to the strong bearish move and just continue. Our job is to wait. See below for correlated pairs: EURNZD, NZDCHF & NZDSGD Follow for more updates like this. EURNZD ANALYSIS NZDCHF ANALYSIS NZDSGD ANALYSIS Cheers, Jabari
Short
by jabariofafrica