This is our current trend analysis and trading plan for the GBP/NZD. The D1 trend is pointing up and the trend cycle is new and just starting. Forex traders should set an audible price alert at the 2.3380 level, shown on the charts. When the alert hits check The Forex Heatmap® for a buy signal. You should look for consistent GBP strength or NZD weakness, or both, on entry using the heatmap signals. We use the smaller time frames plus the heatmap to enter trades into the existing trends on the higher time frames. There are several GBP news drivers upcoming in the main trading session, so strong movement is possible.
Past the price alert point there is plenty of upside potential, possibly to the 2.4400 area, which is approximately 1000 pips. We prepare written forex trading plans daily for 28 currency pairs and 8 currencies using multiple time frame analysis. Combine a trading plan with a great signaling system and you can have powerful results trading the spot forex market.
GBP/NZD Trading Plan