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29.09.2020 01:30 PM
GBPNZD is facing bullish pressure, potential for further rise!

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Price is facing bullish pressure from our first support, in line with our 61.8% fibonacci extension, 38.2% fibonacci retracement, and horizontal graphical support where we could see a bounce above this level to our first resistance level. The Stochastics is showing signs of bullish pressure from the support level of 16.12.

Trading Recommendation

Entry: 1.95643

Reason for Entry:

61.8% fibonacci extension, 38.2% fibonacci retracement, and horizontal graphical support

Take Profit: 1.96762

Reason for Take Profit:

38.2%, 50% Fibonacci extension resistance, and horizontal graphical resistance

Stop Loss: 136.762

Reason for Stop Loss:

61.8% fibonacci retracement, 100% Fibonacci extension.

Dean Leo,
Analytical expert of InstaForex
© 2007-2025
Summary
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Dean Leo
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