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British Pound / New Zealand Dollar

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GBPNZD trade ideas

GBP/NZD BULLISH BIAS RIGHT NOW| LONG Hello, Friends! GBP/NZD is making a bearish pullback on the 1H TF and is nearing the support line below while we are generally bullish biased on the pair due to our previous 1W candle analysis, thus making a trend-following long a good option for us with the target being the 2.264 level. Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis. ✅LIKE AND COMMENT MY IDEAS✅
Long
by EliteTradingSignals
1
GBPNZD: Fractured Ascent Signals Potential ReversalGBPNZD 4-hour chart reveals a compelling narrative of a weakening bullish trend potentially poised for a significant reversal. The pair's recent price action exhibits characteristics of a rising wedge pattern, a formation often indicative of an impending downside breakout. Key Technical Observations: Rising Wedge Formation: The converging trendlines point to a potential exhaustion of the upward momentum. The upper trendline has seen repeated rejections, suggesting a lack of sustained buying pressure. Critical Support Level: The 2.25359 level is acting as a crucial support zone. A decisive break below this level would confirm the wedge breakdown and likely trigger a sharp bearish move. Resistance Zone: The area around 2.27505 represents a significant resistance zone. Failure to break above this level reinforces the bearish outlook. Potential Downside Targets: The chart indicates potential targets at 2.22934 and the low of 2.16774. These levels could act as significant support zones during a potential downtrend. Trading Implications: Short Entry Consideration: Traders should closely monitor the price action for a decisive break below the 2.25359 support. A confirmed breakdown could signal a strong short entry opportunity. Stop-Loss Placement: A prudent stop-loss should be positioned above the recent swing high or the upper trendline of the wedge to mitigate risk. Risk Management: Given the potential for increased volatility during a breakout, sound risk management is paramount. Considerations: Confirmation of Breakdown: A break below the 2.25359 support should be accompanied by strong bearish momentum and ideally, an increase in trading volume to validate the signal. Fundamental Factors: Upcoming economic data releases from both the UK and New Zealand should be closely monitored, as they could significantly impact the pair's price action. Conclusion: The GBPNZD chart presents a compelling case for a potential bearish reversal. The rising wedge pattern, coupled with the critical support at 2.25359, suggests a high probability of a downside breakout. Traders should exercise caution and await confirmation of the breakdown before initiating short positions. Effective risk management is crucial to navigate the potential volatility associated with this trade setup.
by ultreosforex
GBPNZD Will Grow! Long! Here is our detailed technical review for GBPNZD. Time Frame: 12h Current Trend: Bullish Sentiment: Oversold (based on 7-period RSI) Forecast: Bullish The market is approaching a significant support area 2.253. The underlined horizontal cluster clearly indicates a highly probable bullish movement with target 2.277 level. P.S Overbought describes a period of time where there has been a significant and consistent upward move in price over a period of time without much pullback. Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis. Like and subscribe and comment my ideas if you enjoy them!
Long
by SignalProvider
1
GBP/NZD Short Setup AnalysisGBP/NZD 4H Trading Analysis – Bearish Setup 📉 Potential Short Opportunity 🔹 Structure Breakdown: The market broke a rising wedge pattern, signaling a potential downtrend. Price has retraced to key Fibonacci levels, providing a possible entry for short positions. 🔹 Fibonacci Levels: 61.8% (2.2565) 71% (2.2609) 78.6% (2.2648) These levels act as resistance zones where sellers may step in. A rejection from this area could confirm further downside movement. 🔹 Entry & Confirmation: Ideal short entry: 2.2565 - 2.2609 zone (Fibonacci resistance) Stop Loss: Above 2.2750 (100% Fib level & structure high) Target 1: 2.2200 (-27% Fib extension) Target 2: 2.1963 (-61.8% Fib extension) 🔹 Confluence Factors: ✅ Retest of previous support-turned-resistance ✅ Bearish momentum following the wedge breakdown ✅ Fibonacci retracement aligning with resistance
Short
by RSTrad1ng
1
GBP/NZD BEARS ARE STRONG HERE|SHORT Hello, Friends! GBP/NZD pair is trading in a local uptrend which we know by looking at the previous 1W candle which is green. On the 5H timeframe the pair is going up too. The pair is overbought because the price is close to the upper band of the BB indicator. So we are looking to sell the pair with the upper BB line acting as resistance. The next target is 2.240 area. Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis. ✅LIKE AND COMMENT MY IDEAS✅
Short
by EliteTradingSignals
1
GN update correctionRecent data from Forex Factory indicates that the British Pound (GBP) is under pressure due to weak domestic economic figures and prevailing uncertainty. In contrast, the New Zealand Dollar (NZD) is benefiting from robust commodity-related fundamentals. The latest Commitment of Traders (COT) report reveals that large speculators have been reducing their net-long positions in GBP futures, signaling a bearish sentiment toward the pound. Combining these factors, the near-term outlook for GBP/NZD appears bearish. Traders should monitor key support levels, as a breach could lead to further declines. However, any unexpected positive developments in UK economic data or shifts in global risk sentiment could provide temporary support for the pair. Expecting Long first then short
Short
by D_Virtual
GBPNZD (2H Chart) – Precision BreakdownElliott Wave Analysis of GBPNZD 1. Market Structure & Current Position Current Trend: The price is moving within a well-defined ascending channel** with higher highs and higher lows. Recent Movement :A sharp rally to the upper trendline (~2.2750), followed by a correction. Critical Level: The price is testing mid-channel support (~2.2450), a potential decision zone. --- 2. Elliott Wave Count (Detailed Breakdown) Based on the structure, the chart exhibits a **5-wave impulse move, possibly followed by an ABC correction Impulse Wave Structure (Main Trend) 1️⃣ **Wave 1:Strong push from 2.1850 → 2.2350 (Initiation) 2️⃣ **Wave 2: Pullback to 2.1950(Shallow retracement) 3️⃣ **Wave 3:Strong breakout, extending past 2.2750(Largest move, extended wave) 4️⃣ **Wave 4:Current correction to **2.2450 - 2.2350 5️⃣ **Wave 5 (Projected):If wave count is correct, **final push towards 2.2800 - 2.2900 🔹 Wave 3 Validation: The strongest and longest wave, confirming an Elliott impulse pattern. 🔹 Wave 4 Confirmation: Corrections usually respect the previous **Wave 1 territory, which aligns with the channel bottom (~2.2350). Corrective Structure (If Wave 5 Fails) Scenario A: Classic Zig-Zag Correction (ABC) - A: Drop from 2.2750 to 2.2450 - B: Short retracement (possibly back to 2.2600) - C: Further decline to **2.2200 - 2.1850** Scenario B: Running Flat Correction - Price hovers in **2.2350 - 2.2600** range before deciding direction. 3. Key Technical Levels Bullish Case (Wave 5 Continues) ✅ Support: 2.2350 - 2.2450** (Wave 4 support, channel midline) 2.2200** (Breakdown level) ✅ Resistance Targets: 2.2750** (Previous high, key breakout level) 2.2850 - 2.2900** (Final Wave 5 extension zone) --- 4. Probable Scenarios & Probability % ✅ Scenario 1: Wave 5 Continuation (60%) - If price holds 2.2350, expect a final bullish wave toward 2.2850 - 2.2900. - Confirmation: Strong bullish rejection at support. ⚠️ Scenario 2: ABC Correction (Bearish Pullback) (40%) - If price **breaks 2.2350**, we could see a larger retracement to **2.2200 - 2.1850**. - Confirmation: A **break and close below 2.2350** with bearish momentum. 5. Conclusion & Trading Strategy 📌 Bias: Bullish continuation (Wave 5) unless 2.2350 breaks. 📌 Trade Setup: - Long entry: Buy between 2.2400 - 2.2450 with a tight stop below 2.2300. - Short entry: If price **breaks below 2.2350, sell targeting 2.2200 - 2.1850. 📌 Final Thoughts: The next few hours** will confirm whether Wave 5 is valid or we enter a corrective phase. Monitor price action closely.
Long
by MAKFX21