Never miss a story from Paul Robinson

Subscribe to receive daily updates on publications
Please enter valid First Name
Please fill out this field.
Please enter valid Last Name
Please fill out this field.
Please enter valid email
Please fill out this field.
Please select a country

I’d like to receive information from DailyFX and IG about trading opportunities and their products and services via email.

Please fill out this field.

Your Forecast Is Headed to Your Inbox

But don't just read our analysis - put it to the rest. Your forecast comes with a free demo account from our provider, IG, so you can try out trading with zero risk.

Your demo is preloaded with £10,000 virtual funds, which you can use to trade over 10,000 live global markets.

We'll email you login details shortly.

Learn More about Your Demo

You are subscribed to Paul Robinson

You can manage your subscriptions by following the link in the footer of each email you will receive

An error occurred submitting your form.
Please try again later.

For intermediate-term fundamental and technical analysis on GBP and NZD, check out the recently released DailyFX 2Q Forecasts.

Yesterday, GBP/NZD declined down to a trend-line dating back to July and just below last week’s low before posting a key-reversal bar. The rejection wasn’t ‘uber-powerful’, but forceful enough to validate support and keep GBP/NZD in play for a continuation higher out of the downward sloping channel ('bull-flag-like' pattern). A breakout above the top-side of the channel should be enough to spark additional buying interest and keep the sequence of higher-highs and higher-lows in place since January.

A breakdown and close below yesterday’s low at 19172 will take this set-up off the table. Looking higher, the first level of resistance arrives at the March high of 19643, followed by the December high at 19838. If the trade is working towards these levels, a portion of it can be sold at the first target, and the remainder held for the second target or possibly better. Placing limits ahead of these levels by 30-50 pips is prudent to avoid getting caught by sellers showing up ahead of these levels.

Updates will be provided on this idea and others weekly, in the trading/technical outlook webinars held on Wednesday and Friday.

Is low volatility shaking your confidence? You’re not alone. These 4 ideas may help you get back on track – Building Confidence in Trading.

GBP/NZD Daily Chart

gbp/nzd daily chart with bullish set-up

Resources for Forex & CFD Traders

Whether you are a new or experienced trader, we have several resources available to help you; indicator for tracking trader sentiment, quarterly trading forecasts, analytical and educational webinars held daily, trading guides to help you improve trading performance, and one specifically for those who are new to forex.

---Written by Paul Robinson, Market Analyst

To receive Paul’s analysis directly via email, please SIGN UP HERE

You can follow Paul on Twitter at @PaulRobinsonFX