PureSpeculator

GBP/NZD showing strong bullish reaction

Panjang
FX:GBPNZD   Paun British / Dolar New Zealand
When you look at the chart you can see a beautiful trendline holding uptrend for a long time. When I saw the market going closer to trendline I was looking for the right entry which I really have found at Fibo 61.8% + Support which you can see better from 4h timeframe. Moreover, the idea of long GBP/NZD is also supported by very visible divergence. I used stoploss around 100 pips and as I experienced this strong bullish movement to the upside I am gonna wait until it tests closest daily high, but I am planning to hold it until takeprofit which is around level 1.98.
Penafian

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