Potential head and shoulders, analyzing resistance, targeting (~1.938 - 1.911) - GBPNZD
Potential head and shoulders, analyzing resistance, targeting (~1.938 - 1.911) - GBPNZD
Hi All
My thoughts on GBPNZD is that the d1 chart signals that the downtrend stopped in June of the past year, form there's built a great foundation and since september was on a bullish run. Taking a look at the d1 chart there's absolutely not any reason to believe this trend will not continue with PA not indiing a change.
Taking a look at the intraday action about the 1h chart I have resistance beginning at 19550, however I dont expect it to transport, in my own opinion the reversal point or CT trade is going to be a small pocket in between 19620--19640. On the support side I visit a lot of possibility to visit 19250 and 19100 after that, but these are areas outside the intraday action.
Charts Attached
Simon
Range breakout, weekly low breakout, GBP stays unsupported while AUD is getting a bid, adjust prevent loss and take profit to fit your personal risk profile and market conditions.