GBPNZD / looks good to buy
Given the overall market direction, which remains extremely bullish across multiple timeframes, this trade has a high probability of continuing its upward trajectory.
Looking specifically at the 4-hour timeframe, price initially made a strong push to the downside, retested a key area of interest, yet ultimately closed above critical levels—including the monthly and weekly pivots, Fibonacci levels, and the 50-period moving average—forming a high-confluence zone.
With recent signs of exhaustion, price may once again retest the previous 4-hour resistance zone, as its identified on the chart.
Looking specifically at the 4-hour timeframe, price initially made a strong push to the downside, retested a key area of interest, yet ultimately closed above critical levels—including the monthly and weekly pivots, Fibonacci levels, and the 50-period moving average—forming a high-confluence zone.
With recent signs of exhaustion, price may once again retest the previous 4-hour resistance zone, as its identified on the chart.
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