# GBPNZD Short-term Pullback (Sept 18, 2014) Source: https://www.tradersway.com/resources/market-info/gbpnzd-short-term-pullback-sept-18-2014/ Language: en Updated: 2014-09-18 Description: Explore GBPNZD Short-term Pullback (Sept 18, 2014). An uptrend. Trade Forex and CFDs on MT4 and MT5 with tight spreads, flexible leverage and fast funding. An uptrend appears to be forming on GBPNZD, as a rising trend line can be drawn to connect the recent lows on the 1-hour time frame. However, stochastic has just reached the overbought area and is heading lower after price tested the 2.0100 major psychological resistance. This could lead to a test of the rising trend line, which lines up with the 38.2% Fibonacci retracement level and the 2.0000 major psychological handle. This acted as resistance in the past and may hold as support for now. ![GBPNZD Short-term Pullback (Sept 18, 2014)] A bounce from this area could push GBPNZD back to its previous highs at 2.0100 or higher if buying momentum picks up. Going long at 2.0000 with a stop below the Fibonacci retracement levels and trend line and aiming for new highs around 2.0200 could yield a high return-on-risk for a short-term trade. Aiming higher while keeping a trailing stop could improve profitability while minimizing exposure. Data from the UK has been strong recently, supporting a bullish bias for the pound, as the BOE has also showed a couple of policymakers voting to hike rates. However, the Scottish referendum is still a huge event risk for this setup, as Scotland’s independence might lead to political and economic uncertainty for the United Kingdom. *By Kate Curtis from Trader’s Way* ## Structured data JSON-LD as served in the HTML version of this page. ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Article", "@id": "https://www.tradersway.com/resources/market-info/gbpnzd-short-term-pullback-sept-18-2014/#primary", "url": "https://www.tradersway.com/resources/market-info/gbpnzd-short-term-pullback-sept-18-2014/", "mainEntityOfPage": "https://www.tradersway.com/resources/market-info/gbpnzd-short-term-pullback-sept-18-2014/", "headline": "GBPNZD Short-term Pullback (Sept 18, 2014)", "inLanguage": "en", "datePublished": "2014-09-18T09:00:42+00:00", "dateModified": "2014-09-18T09:00:42+00:00", "articleSection": "Market Info", "description": "Explore GBPNZD Short-term Pullback (Sept 18, 2014). An uptrend. 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