GBP Emerges As Strong : NZD Weakness In Focus
Tues 24th October 2023 : Daily Forex Price Action
Today we’re looking at Trading Setups in:
- GBPNZD (Primary Focus Pair)
- EURNZD (Covered In Video)
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Our Interest (pending order)/Open Interest (live position)
GBP has appeared on our live forex strength vs weakness tables as a strong currency.
NZD continues to be weak featuring as W1 on both tables
GBPNZD recently found key support on the D1 chart at 2.0325.
Since then GBPNZD has been bullish with several daily candlesticks making higher highs and higher lows.
Price on the H1 chart shows price in an upward trend, above the H1 50 moving average.
When price is above the H1 50 moving average, price tends to remain bullish.
Hourly price action shows GBPNZD price forming pin candles, this means we could look for long.
If price breaches these H1 candle highs, we could expect bullish momentum to continue.
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Primary Focus Pair Chart:
09:00 GMT/BST Forex Strength Vs Weakness Tables:
