GBPNZD POC| .618 Fibonacci| Price Action| Trend

Evening Traders,

Today’s analysis – GBPNZD- trading towards a key support area where a bounce is probable,

Points to consider,
- Price Action Corrective
- .618 Fibonacci Support
- Bullish OB Support
- Low Volume

GBPNZD’s immediate price action is trading towards a key trade location that is in technical confluence with the .618 Fibonacci and the Bullish OB, allowing for a bullish bias.

The immediate objective is the bearish OB resistance, a rejection here is probable.

The current volume profile is below average, an influx is highly imminent on the next expansion.

Overall, in my opinion, GBPNZD is a valid long with defined risk; price action is to be used upon discretion/ management.

Hope this analysis helps

Thank you for following my work

And remember,

“Trading effectively is about assessing probabilities, not certainties.”
― Yvan Byeajee