GBPNZD Analysis | Bullish Breakout in Play?

📈 GBP/NZD Analysis – Bullish Breakout in Play?

Overview:
The GBP/NZD pair has broken above a long-standing bearish trendline and is currently retesting a key support level near 2.24085. This level has acted as a solid base after the price exited the previous range zone.


Technical Highlights:

✅ Bearish Trendline Breakout – The downtrend has been breached, indicating potential bullish momentum.

✅ Support Holding Strong – 2.24085 has been respected multiple times, reinforcing its importance.

✅ Higher Lows Formation – Price is forming a structure of higher lows, confirming bullish bias.

Next Resistance Target: 2.27683
Potential Scenarios:

Bullish continuation towards resistance with a breakout above 2.2600.

Possible pullback to trendline or support before resuming uptrend.


Trade Idea (Not Financial Advice):
Look for long entries on bullish confirmation above the trendline or on a pullback to support. Set TP around 2.2750 – 2.2780 zone.

Risk Management: Always use stop-loss and proper risk-to-reward ratio.


💬 What do you think? Are we heading to 2.2768 or will the support get retested again?

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