Vladimir RibakovOwner, Chief Trader at Home Trader Club (Former Traders Academy Club), Owner, Chief Trader at Home Trader Club (Former Traders Academy Club) · Owner, Chief Trader at Home Trader Club (Former Traders Academy Club)

GBPNZD analysis & trading plan - 3 July 2024

3 Jul 2024 · 1 min

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In this brief video, Vladimir Ribakov examines the GBP/NZD currency pair using daily and 4‑hour charts. He notes that the pair is bouncing off a classic support zone after forming a bullish divergence—price attempted lower lows while the MACD produced higher lows. On the 4‑hour chart, buyers have taken strong control, maintaining bullish momentum, but a strong resistance zone now caps the move. Ribakov suggests short‑term bounces may occur, yet a break above the resistance would signal a continuation of the bullish trend. He invites viewers to share their thoughts in the comments.

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Can pound New Zealand continue its bullish momentum from here? Let's take a look on the charts. On a daily chart, the pair is bouncing right off classical supportive zone after completing a bullish divergence. While the market tried to make lower lows, the support zone hold and MACD makes higher lows— bullish divergence. As you can see on the four-hour chart, the buyers took very good control from there and currently running and maintaining a bullish momentum. However, there is a strong resistance zone at the moment on the 4-hour chart. Short-term bounces are possible. However, break above the resistance should be a trigger for further bullish continuation. What do you think about this pair? Let me know in the comments.