GBPNZD: The price is getting a NEW BULLISH IMPULSE!

Hi traders and welcome to my channel, if you enjoy my FREE Technical Analysis📈 and Trading Tips📉, support the idea hitting the LIKE👍 button and don't forget to SUBSCRIBE✔️ my channel, you won't miss anything!

🟢Forex Pair:
GBP/NZD

⚪Technical Analysis:
Since the 13th of January 2021, the price has been moving with a clear side trend, bouncing up and down between the resistance level at about 1.92000 and the weekly support level at about 1.89100.
It is currently re-testing the strong support level, that rejected the price many times in the past and the next price action around that area will be essential to understand the next market movement.

🔴Conclusion:
The price has just broken its ema 200, but still moving between its S/R zones, the price is overbought and in high volatility just around the support level at about 1.89100.
I'm confident to see the price getting another bullish impulse and I'll be waiting for a clear rejection on the current level before planning the long position on this trade.

Stay tuned for Updates and Trading Signals!
What's your opinion? Share your idea writing a comment!

⚠️Please note the views are not investment advice and should be used only for educational purposes⚠️

Trade Safe and Responsibly,
Gianni

Comentário:

If you would like to have a quick look on my previous analysis: