GBPNZD overview UK GDP Ahead : Possible Trade Opportunities
As we have mentioned in our GBPAUD trade idea, UK GDP will be released today. And we may have a nice profit opportunity on GBPNZD as well.
GBPNZD midterm trend turned bullish. The pair is trading above 1.93500 support. A better than expected UK GDP and Production figures will trigger the bullish move.
If GBPNZD breaks out the triangle upside – 1.94500 – the next targets will be 1.96000 and 1.97500.
If data misses the expectations, we will look for a selling opportunity at the breakout of the baseline 1.93000.
Shortterm direction of the pair will be determined by today’s data.
Rules To Keep In Your Mind: Trade Safe. Money Management is the key to success in forex trading. Do not risk more than 1% of your account in each trade.
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DISCLAIMER: This is a technical analysis study, not an advice or recommendation to invest money
GBPNZD: Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. Chartreaderpro does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility