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Trading Idea - GBP/NZD, 22-02-2021
Trading Signal: GBPNZD
| Order | Buy |
| Direction | Bullish |
| Pattern | Fibonacci Resistance Test |
| Interval | 1 hour |
| Length (Candles) | 10 |
Idea Summary
Short term GBPNZD forecast is bullish. The technical analysis of the GBPNZD chart in 1-hour timeframe reveals the GBPNZD pair has failed to breach above the Fibonacci resistance level 23.6, has retraced down but is rising for another test. There is a likelihood GBPNZD may reverse as it bounces off the Fibonacci 23.6 level again, however, a breach above that resistance level will reinforce bullish momentum further.
Note:
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