• Feb 10, 2025
  • Trade ideas

GBPNZD: Head and Shoulders

GBPNZD, Daily

GBPNZDDaily.png

In the Daily timeframe, GBPNZD has formed a head and shoulders pattern. Price has fallen towards the neckline, testing a substantial support area, with the AO again indicating a rising bearish sentiment.

  • A break of support below 2.1900 will drop the price to 2.1470;
  • A rebound from support will take GBPNZD back to 2.2100 and further to 2.2370;
TRY TRADING NOW

Trading foreign currencies on margin involves significant risks and may not be suitable for everyone, as high leverage can increase both potential gains and losses. Before entering the foreign exchange market, it is essential to evaluate your investment goals, personal experience, and risk tolerance.

Share with friends:

Photo

Author: Egor Schmidt