GBPNZD Buy OpportunityKey Observations:
Demand Zones:
Yellow Zone (Demand H1): This area represents a short-term demand zone where price has previously reversed upwards.
Green Zone (Demand H4): This is a stronger demand zone from the 4-hour timeframe, indicating a higher likelihood of a bullish response if the price revisits this area.
Price Action:
The price shows a series of lower highs and lower lows, indicating a prior bearish trend.
A recent reversal from the yellow demand zone suggests some bullish momentum.
Potential Targets:
Two arrows pointing upwards indicate potential target areas around 2.16095, which may act as resistance.
Market Structure:
The downward red arrows mark previous bearish waves.
The upward move from the demand zone may signify a corrective or new bullish phase.
Analysis:
Bullish Outlook:
If the price sustains above the yellow demand zone, it could aim for the marked resistance level at 2.16095. A break above this level could signal further upside.
