Big Pictures shows that price is still currently undergoing a retracement. Since feb 2013, there has been no bearish month. This retracement has been almost a year. Will only believe this pair is in perma bear should there be a bearish month close below the upslope trendline.
D1 chart shows a mess.
However I am looking at potential D1 EWUS where support seem to converge nicely with w1 + fib7 + fib6.
since my bias is long as there have been no bearish month, a long is more with the current momentum. at Friday’s close , a daily hammer suggests the confluence support is valid.
I look for methods of entry on h4.
1) entry via small h1 ihs minimize pip risk
2) orthodox entry via 1234 multi day flush
Overall analysis looks good with a decent multi day 1234, this can be considered an A grade setup. However as all gbpnzd trades, trade size has to be smaller with larger pip move.