Evening Traders, Today’s analysis – GBPNZD – trading above the Local S/R with technical confluence, further upside is probable, Points to consider,
– Price Action Impulsive
– Local S/R Support
(200 MA Confluence)
– Daily S/R Resistance
– Oscillators Neutral GBPNZD’s immediate price action is impulsive, trading above its local S/R that is in technical confluence with the 200MA S/R, this allows for a bullish bias. The Daily S/R is current objective, exceeding this level increases the probability of testing the 1.618 Fibonacci Extension . Both oscillators are trading neutral, remaining in their respective bullish control zones is indicative of strength. Overall, in my opinion, GBPNZD is a valid long with defined risk, price action is to be used upon discretion/ management. Hope this analysis helps Thank you for following my work And remember, “Once you find the system that works for your style/personality and confidence is gained, wash, rinse, repeat over and over again.” – Sunrisetrader


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