GBPNZD Approaching Key Resistance Zone
The 4-hour chart shows that GBPNZD is forming a large megaphone pattern. This pattern's resistance line could trigger selling pressure, leading to a potential price drop from the current zone.
Keep an eye out for signs of a reversal and watch the support levels where the price might react. Key areas to monitor: 2.2670, 2.2560, 2.2445, and 2.2200.
PS: Be careful as this is a counter trend trade. Very risky overall
You may find more details in the chart!
Thank you and Good Luck!
❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
The 4-hour chart shows that GBPNZD is forming a large megaphone pattern. This pattern's resistance line could trigger selling pressure, leading to a potential price drop from the current zone.
Keep an eye out for signs of a reversal and watch the support levels where the price might react. Key areas to monitor: 2.2670, 2.2560, 2.2445, and 2.2200.
PS: Be careful as this is a counter trend trade. Very risky overall
You may find more details in the chart!
Thank you and Good Luck!
❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
Trade active
GBPNZD - target _1 reached
Trade closed: target reached
GBPNZD - It's moving down for the Third target:)
Note
320 pips down since when it was posted:)
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✅MY Free Signals
t.me/TradingPuzzles
✅Personal Telegram
t.me/KlejdiCuni
✅YouTube
youtube.com/@TradingPuzzles
t.me/TradingPuzzles
✅Personal Telegram
t.me/KlejdiCuni
✅YouTube
youtube.com/@TradingPuzzles
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.