GBP/NZD H4 Timeframe Analysis

Hello Traders, I hope you all having positive monday morning!

Today I will take a look at GBP/NZD H4 timeframe.

Looking at the GBP/NZD chart we can see that price sitting at strong support zone. 3rd touch of the ascending trendline. HL made. Fibonacci retracement showing bullish signs to us.

Break or bounce?

I’m personally looking to long this pair. Targeting 400+pips to upside.

If price will break this support zone to downside, we can short this pair at the retest of 1.9513 area.

Best wishes!

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