GBPNZD Swing trade idea WC 13/02/2025

GBPNZD is currently hovering around the 61.8% Fibonacci retracement level on the daily timeframe, which also aligns with the previous higher high.

This area is a key zone of interest, as it may signal a potential buying opportunity targeting the next swing high around 2.28860. However, it’s important to monitor price action closely near the 2.23406 level, as there’s a possibility of forming a triple top at that zone, which could lead to a pullback before continuing higher.

Traders should be cautious and look for strong rejection or confirmation signals before entering positions, as this area could dictate the next significant move in the pair.