GBP/NZD: 1-hour
Looks like Happy Pip is on to something with her GBP/NZD trade idea! The pair just made a strong rally last week then pulled back to the 2.0000 major psychological support level recently. This lines up with the rising trend line forming on the 1-hour forex chart and the 61.8% Fibonacci retracement level. Stochastic is starting to crawl out of the oversold area, suggesting that buyers could push the pair back up to its previous highs near the 2.0300 major psychological level. Gotta set those stops right if you’re planning on going long!
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