👑 GBPNZD 🗝️ LEVELS TO WATCH👀 AND WHY

Hello Traders! 👋 It looks like it's time to refresh the idea in the British New Zealand (GBPNZD) pair. Since my last idea didn't turn out as expected, but no worries, I've got you covered.

The price on the hourly chart is currently trading within a rectangular channel between the upper trend line breakout at 2.05294 and the lower trend line breakout at 2.04003.

Here's the strategy:

For Long Position (Buy):
Enter a long position above 2.05294.
Confirm the breakout with a surge in volume.
Set the stop loss at the middle of the channel, which is at 2.04659.
Target levels:
Target 1: 50% at 2.05939.
Target 2: 100% at 2.06582.

For Short Position (Sell):
If the price breaks out below the lower trend line at 2.04003 with a surge in volume, consider a short position.
Set the stop loss at 2.04659.
Target levels:
Target 1: 50% at 2.03381.
Target 2: 100% at 2.02731.

If you find this idea interesting, please leave a like to support it, and stay tuned for my future updates.