GN has recently seen a big push to the downside followed by strong NZD news. This has brought us back down to the bottom of our consolidation zone, which rests on a strong resistance turned support. We have been in a bullish trend, broker above resistance, came back down to retest and have been in this consolidation. With GBP news this week, i think it will give us a bullish GBP and can see GBPNZD seeing fresh highs. As for entry, have a wide stoploss just under the support region of this consolidation zone, targets can be set towards 2.0850
Note
up 175 pips! GBPNZD has big moves and a daily ATR of almost 200! Good idea to move SL to BE and re-enter more buys on any significant dip
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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.