GBPNZD | 07.11.2024BUY 2.15450 | STOP 2.14850 | TAKE 2.16250 | We expect a technical rebound of the pair from local support levels.
GBPNZD trade ideas
GBPNZD - How will the BOE decision affect the pound?The GBPNZD currency pair is above the EMA200 and EMA50 in the 4H timeframe and is moving in its medium-term bullish channel. In case of downward correction, we can see the demand zones and buy this currency pair within those zones with appropriate risk reward.
The Bank of England has lowered its interest rate by 0.25%, bringing it to 4.75%. According to the Bank’s monetary statement, GDP is projected to grow by 0.2% in Q3 2024 compared to the previous quarter (September forecast: 0.3%) and increase by 0.3% in Q4 this year. The goal is to keep the interest rate restrictive enough until the risks of inflation persistently returning to the 2% target diminish.
Andrew Bailey, the Bank of England’s governor, noted that the rate of inflation decline has been faster than expected. However, further reduction in service price inflation is still needed to maintain the consumer price index at the 2% target level, and sufficient spare capacity will be essential to reach this goal in the medium term.
The rise in the employer’s national insurance contribution, included in the budget, is expected to have a slightly inflationary effect on prices and a marginally negative impact on wages and corporate profitability. The combined effect of increased employer national insurance and minimum wage is likely to raise hiring costs, with the net impact on inflation yet to be determined.
Adrian Orr, the Reserve Bank of New Zealand’s governor, highlighted geopolitical tensions as a significant risk to the economy, expressing concern over the economy lagging behind the interest rate cuts.
Orr also emphasized that climate change poses an existential threat to New Zealand, calling for serious attention to this issue. This view reflects deep economic and environmental concerns in the country.
The Reserve Bank of New Zealand’s Financial Stability Report indicates that the financial system remains resilient despite the economic downturn, with risks under control. Banks anticipate a slight increase in non-performing loans, although this level remains below what was experienced during previous economic recessions. Debt servicing costs have peaked and are now declining, with mortgage interest rates dropping over the past six months. Although many households and businesses are under financial pressure and some borrowers face challenges with rising unemployment, domestic economic challenges persist.
GBPNZD next possible moveWe are waiting for our asset to reach our action zone, and based on the reaction, we’ll decide on our next moves.ALWAYS WAIT FOR A CONFIRMATION TO SEE IF THE PRICE VALIDATES THE ZONE.
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.
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
This Is An Educational + Analytic Content That Will Teach Why And How To Enter A Trade
Make Sure You Watch The Price Action Closely In Each Analysis As This Is A Very Important Part Of Our Method
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: Important Breakout & Bearish OutlookGBPNZD has broken and closed below a strong horizontal support level on intraday charts.
The blue area marked is also the neckline of an inverted cup & handle pattern.
This violation could lead to further downward movement, with the next targets being 2.148 and then 2.141, support level.
Traders may want to look for opportunities to enter short positions on a retest of the broken support level.
GBPNZD / M15 / LONGGBPNZD Potential Rise from the Bullish Order Block
Bullish Order Block: 2.16193 and 2.16070
Analysis: GBPNZD is approaching a key bullish order block between 2.16193 and 2.16070. Based on Smart Money Concepts (SMC), this zone is identified as a high-probability support area where institutional buyers may be active. The price previously tested this order block and is showing signs of support, indicating a potential upward move.
Trade Setup:
Entry Zone: Within the order block (2.16193 to 2.16070)
Target Levels: Looking for price action to potentially reach previous resistance levels, aiming for a profit zone above the order block.
Stop Loss: Set just below the lower boundary of the order block for effective risk management.
Expectation: There is a strong probability that GBPNZD will respond positively to the order block and rise in the short to medium term. We'll keep an eye on price action and any signs of bullish momentum that confirm the trade setup.
Entry :- 2.16198
TP :- 2.16684
SL :- 2.15715
GBPNZD LETSSS GO Buy GBPNZD. Price has mitigated a Bullish 1 hour Fair Value Gap and is set for a move to the upside.
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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GBPNZD: Growth & Bullish Continuation
Balance of buyers and sellers on the GBPNZD pair, that is best felt when all the timeframes are analyzed properly is shifting in favor of the buyers, therefore is it only natural that we go long on the pair.
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6-11 GBPNZDDue to the positive Unemployment Rate change the choice to buy NZD is increased. Our signal system indicates neutral on this pair. We are waiting for a clear down movement so we put a small sell in at 2.15691.
GBPNZD SHORT-Weekly: Bullish. However, price has reached a support that has not broken since 2016 creating a double top with a doji
-Daily: Bearish with recent change of structure.
-4h: AOI (Support and resistance)
-1h: 61.8% FIB retracement and engulfing candle.
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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Lingrid | GBPNZD fake BREAKOUT of the Previous DAY highFX:GBPNZD has reached a strong resistance zone on the daily timeframe, pulling back from the 2.18000 level. As observed, the price has been creating impulse legs followed by weaker pullbacks. Recently, the market formed a compression channel or an ascending triangle pattern. I anticipate bearish momentum potentially forming ABV pullback toward the support level, especially since the market made a fake breakout above the previous day's high. My goal is support zone around 2.15610
Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩💻
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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GBPNZDSwing sell anticipation.Daily supply has been mitigated and price failed to break the previous daily high.This week we might be looking and scailing in sell positions all the way to the downside demand level.
GBPNZD SELL SETUP Solid potential sell setup here. H&S breakdown and the retest of the neck line structure formed!
GBP_NZD (260 Pips)A double top formation on the weekly timeframe, combined with a close below the previous week's high, plus a week showing lower highs and lower lows - this typically suggests bearish momentum is building.
Here's why:
Double top: This is a reversal pattern showing price failed twice to break above a resistance level
Close below previous week: Indicates sellers are gaining control
Lower highs/lower lows: Classic definition of a downtrend beginning to form.
The likely direction over the next week would be downward, as these are multiple bearish confirmation signals occurring together.
End of week Target: 2.13965
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)
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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/NZDGBP/NZD I have the following preview of this pair>>🖊️ On the Daily chart we tested the long M2_Daily, when the market reacted with a bullish moment. On the 4HTF we closed below the Long and Short M2 when we are holding below these zones and at the same time we are below the wpoc and we tested the wval, this is short for me. Of course we will see what the market offers on Monday. I have zones set that I will monitor.👀 📝
GBPNZD 1H We have an overall bullish market on our 1H timeframe with price giving us a clear price action.
We saw price rise to form new higher high and higher low this week. On the last day of week (Friday) we saw price rise higher to shift back into bullish structure into bullish market structure after reacting to an unmitigated 1H demand zone. Left behind the new bullish trend is a new unmitigated demand zone with fair value gap and an inducement zone above our true zone. Our Fibonacci retracement tool indicates price has reacted to a premium price of the trend
Above our 1H trend is a supply zone with high chance of being inducement due to three reasons:
1. We had a 1 2 price push before losing power to buyers that are now controlling the market.
2. The internal structure shift may result to price reacting to higher timeframe bullish trend rather than continue bearish as one would expect.
3. We have trendline liquidity above this supply and a high of week which couls be good target for liquidity due to price being bullish.
