Hi Traders! We have GBPNZD buy pullbacks after the breakout. A detailed analysis of this buy opportunity is as follows:
GBPNZD Daily Chart:
On the daily chart the price which was moving inside a triangle pattern has currently broken above the top of this pattern. We may now expect the price to retest this breakout and then to move higher. Hence we may now look for more evidences of bullish pressure on lower timeframes in order to join the bulls.
GBPNZD H4 Chart:
On the H4 chart we may expect pullbacks to happen from the current zone towards the zone (marked in yellow) shown in the screenshot. Once the pullback completes itself look for evidences of bullish pressure and once we get evidences of bullish pressure, we may then start looking for buys.
Note: It is always recommended to look for confirmations before you jump into any trade. If you are not sure about how to trade this buy setup then you can use any setup and strategy that you have in your arsenal to look for bullish moves and join this buy trade.
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