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GBPNZD Approaches Final Leg to 1.8200 Target

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On October 26, 2020, I wrote about a potentially bearish scenario for GBPNZD.

In fact, I’ve been talking about shorting the pair since March of last year.

I was also getting short in late October, which I announced to members on the Daily Price Action membership site.

That position is now in profit by 870 pips.

Here’s a zoomed-out view to explain why I’ve been bearish for so long:

GBPNZD weekly time frame

There were also multiple opportunities to short GBPNZD between late November and December.

Notice how the 1.9070 area served as resistance for several weeks following the November 27th close below it.

So where to from here?

As I’ve mentioned before, the 1.8600 area is the next hurdle for sellers.

We saw GBPNZD bounce from this region in December.

A weekly close below 1.8600 would open the door to my final target just above the 1.8200 handle.

If you’re looking for an entry, I would keep an eye on 1.8850.

A weekly close below that should flip the area to resistance.

Disclosure: I hold a GBPNZD short position.

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GBPNZD breakdown on the weekly chart
GBPNZD weekly time frame

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10 comments
Justin Bennett says

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Reply
Bamidele. says

Great job, Boss.
God bless you real good always.

Reply
MARTIN MAINA says

I HAVE BEEN HOLDING SHORT ON BOTH PAIRS GBPAUD/GBPNZD TARGET HIT 300 PIPS EACH IE GAP FILLING THANKS MAN THANKS MASTER GOLD COMING TO MY BUY LIMIT I SAID I WAS SKEPTICAL ON BUYING THE YELLO METAL NOW I WILL BUY AFTER GAP FILL AND CLOSURE ABOVE 1900 TARGTING 2075 IF I WILL BE RIGHT I WILL POCKET 1800 PIPS. CHECK GBPCAD GAP FILLING PLUS INSIDE BAR BREAKING

Reply
    Justin Bennett says

    You’re welcome.

    Reply
Hany Gabr says

Hi Justin , I am holding short position winning 350 pips till now aiming for 700 pips ,

I also will try pyramiding strategy you teach on this pair on 88.50 & 86.40 it is my 1st time to try pyramiding strategy,

my 1st position is 3R , with pyramiding it is now 8.43R & will increase after the final short at 86.40.
If I play this right I am looking forward to be in your members area.

Reply
    Justin Bennett says

    Nice! Well done.

    Reply
ali says

thank you sir.

Reply
    Justin Bennett says

    You’re very welcome.

    Reply
Titus says

You’re doing such a great work and yet following through with update, it alot to be reading and getting all these clues for free, i’ve been catching all the impulse move on both GBPAUD and GBPNZD. God bless Justin.

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