GBPNOK at Key Demand Zone: Rebound Toward 14.0198?
GBPNOK reached a significant demand zone, marked by prior strong price reactions and buying pressure. This level has historically acted as a support zone, indicating the potential for a bullish reversal if buyers regain control.The current market structure suggests that if the price confirms a rejection from this demand zone, we could see a move upward toward the 14.0198 level, which aligns with a logical retracement.
Traders should watch for bullish confirmation signals, such as bullish engulfing candles or higher lows, before entering long positions.
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