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GBPNZD, H4 | Bullish Momentum

30752 gbpnzd h4 bullish momentum

Type: Bullish BounceKey Levels:Resistance: 2.04059Pivot: 2.01111Support: 2.00397Preferred Case:Prices are on bullish momentum and abiding to our bullish trendline. We see the potential for a bounce from our Pivot a 2.01111 in line with 100% Fibonacci extension towards our 1st resistance at 2.04059 in line with 61.8% Fibonacci extension, 127.2% Fibonacci extension and 100% Fibonacci retracement. Prices are trading above our Ichimoku cloud support, further supporting our bullish bias.Alternative Scenario:Alternatively, prices may dip towards our 1st support at 2.00397 in line with 23.6% Fibonacci retracement and 78.6% Fibonacci retracement.

Source: Tickmill

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