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GBP/NZD short opportunity

Recently I made a post predicting for a pair to go higher after bouncing at 2.00 level. however it didn't play out as I thought it would. Price went up and then came back down again. Affected by NZD interest rate decision. This price action over last 2 weeks looks pretty much corrective. Price could still go up, but I am concentrating on a better setup.
We also have an impulsive move, break of a trendline and pullback.
Price bounced back from this new resistance level marked with rectangle how…
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GBP/NZD possible trade setup

Although it may look like a correction, I still believe that there is more potential for an upside move than there is for a downside move. Reason being the very bearish outlook of a NZD/USD. USD is currently outperforming all the major currencies including GBP. In times when both GBP and NZD are in a downtrend, GBP/NZD tends to experience an uptrend unless there is a sudden strong depreciation of a GBP or appreciation of a NZD.
I am lookin for 3 possibilities to go long.
1. At 2.00 level
2. Off…
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GBP/NZD short term forecast

If we look on the hourly chart we can clearly see that the pair is trading in a sideways mode. There has been two rejections of the support level and twice as much rejections from the resistance level. In my opinion it indicates that there is more supply than demand which in turn means that price should go down. If You enlarge the image You are able to see that last low was lower than the previous and was followed by a higher high. This often times is done to gain the momentum in order…
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GBP/NZD

Good day fellow traders. I would like to draw Your attention to this pattern that has formed on GBP/NZD H4 chart . There is a pretty good quality Head and Shoulders pattern here. Very clear left shoulder , but smaller and weaker right shoulder. In my opinion it shows that there is enough buying power. I already wrote an article about this pair regarding the daily chart setup where we have something that could be a widening triangle. Daily price action also supports bearish outlook, The distanc…
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GBP/NZD

Pair has been trading in a range from 1.885 - 2.01 for the last half year. Always it seemed that new high or new low was made. This pattern could qualify for an expanding triangle. Although the point 4 is not lower than point 2 the idea behind this pattern is the same. Few fake breakouts in both directions. The highs were taken out each time, last time even with a gap down giving more credibility that the breakout was fake.
The weekly chart looks also very bearish. It seems that a new high has b…
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