Good morning Traders!
GBPNZD
The market is in an uptrend on the Weekly and the Monthly timeframes, and it is currently still overextended.
The Daily chart is showing that the market has found Support at around the level of 2.04 round number, and so far is making Lower Highs and somewhat Equal Lows.
I am looking for either a decisive break and then a retrace to test this level from below, or for compression of price above this level and a potential break, if and when the market will continue it’s pullback. Keeping in mind that this is against the higher timeframe overall direction.
Happy Trading!
