In keeping with the Pound strength theme, I am looking at GBPNZD which has recently broken above a long-term trend-line and today has come back to retest that line.

I see major Daily structure just below price at 1.78840.

Droping down onto the 4 hour chart we see that price is sat at a 50% retracement of the most recent swing low-high. We also have Fibonacci confluence below at the 61.8% retracement that lines up nicely with a 38.2% retracement of the larger swing, aswell as majour Daily structure.

Aggressive Entry:
Aggressive Entry

UPDATE: Price has hit the 61.8% Fibonacci retracement of the leg down, so to protect this trade I have moved the stop to break even. Currently 100+ pips up.
GBPNZD +100pips

Daily
GBPNZD Daily

4 Hour
GBPNZD 4 Hour

1 Hour
GBPNZD 1 Hour

Cheeky 200 pips 🙂

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