Cabana Capitals Blog Market Insights GBP/NZD: Bulls stepping up to the plate

GBP/NZD: Bulls stepping up to the plate

GBP/NZD: Bulls stepping up to the plate post thumbnail image
  • GBP/NZD bulls are stepping in at a critical support structure.
  • The bulls need to make or break at this juncture, as evident across the charts. 

General overview: The pair created the built the strong support highs in the chart. The British pound found fresh buying in the chart. The positive rate influenced the economy to create the demand in market and boosted the major buying opportunity in the market. The pair created the bullish momentum in the chart and the pair creates the strong bullish in the market. The bulls are forcing the market to create the higher highs in the market and chart is going create high volatility in the market. The greenback found some additional growth in the chart. As the economy shows slow growth rate process. The bulls are in favors of market and the strong aggression can be seen towards the buy side.

Technical analysis: From the technical point of view we can say that market makes strong buy side in the market. Odds are favoring the bulls and create the bullishness in the market. The pair trading above the support level as creating buys signals. The bulls are forcing the market towards the upside movements and create the busy signals. On the daily chart we can see market is in upside as well trend is towards the higher side, market is forming triple top in the chart. Indicator is also supporting the market to create buy signals .The minors EMA lines also trading below the pairs to create the buy signals. The bulls are testing the strong key resistance level and wants to trade towards the upside momentum in the chart.

Trade idea: traders and investors can go for buy at level 1.9469 target will be 1.9550-1.9600 and stop loss will be 1.9400


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