FX.co ★ GBPNZD Potential For Bullish Continuation | 21st June 2022

Description:On the H4, with price moving in an ascending trend channel, we have a bullish bias that price will rise from the 1st support at 1.92537 in line with the 61.8% fibonacci projection and pullback support to the 1st resistance at 1.96656 at the swing high in line with the 78.6% fibonacci projection and 50% fibonacci retracement. Alternatively, price may break the support at our entry and drop to the 2nd support at 1.91078 in line with the overlap support

Trading Recommendation Entry: 1.92537Reason for Entry:61.8% fibonacci projection and pullback support

Take Profit: 1.96656 Reason for Take Profit:swing high, 78.6% fibonacci projection and 50% fibonacci retracement

Stop Loss: 1.91078Reason for Stop Loss:overlap support