The GBPNZD continues to trade within its 2023’s pullback range.

To end my Finlogix analyses this Thursday, I am including the GBPNZD cross pair in my list.

There are no further major impact data releases in the UK and New Zealand to finish the trading week.

Assessing GBPNZD’s high timeframe candles:

Monthly Candle: Previous close is a Green Body current is a Red Spinning Top

Weekly Candle: Previous close is a Green Long Upper Shadow with a Small Body current is Red Long Lower Shadow with a Small Body

Daily Candle: Yesterday close is a Green Semi Doji current is Developing a Small Red Body with a Longer Head Wick

The crucial 2.0 level is maintained after a strong 50% profit taking in 2023.

According to the previous and current weekly candle patterns, there’s an excellent portrayal of supply and demand levels in the last two weeks!

The supply and demand structure got validated last Monday and Tuesday’s bullish engulfing candles.

Any possible dips towards yesterday’s will be bought moderately.

I am seeing sideways price action in the 2.09-2.10 range till next week.

My trade plan today is to buy the possible intraday dips.

The GBPNZD bulls have more strength according to the recent supply and demand structure.

I’m preferring to trade the 2.09-2.10 range with any dips towards the 2.08 sub-levels being strongly bought off.

In case there’s a range breakout above the 2.10 local resistance, I’m happy to adjust the next trade.

Good luck on this one and see you in my next analyses.

All trade ideas I share are my own views and for my own trades only.

Copy trading and trading directly involve risks.