GBPNZD is in a ranging market and recently it has reached its strongest resistance which has been tested multiple of times.
While is rejected and fell down instantly the pair came up and gave us a proper reversal pattern to show us that the sellers are in control of the market now. As the double top has been formed, it still remain to be confirmed only if the market crosses the neck-line and also breaks the uptrend that is formed and comes to retest them both. Then certainly we can say that we are going for sells until we reach our support structure at the bottom.
While is rejected and fell down instantly the pair came up and gave us a proper reversal pattern to show us that the sellers are in control of the market now. As the double top has been formed, it still remain to be confirmed only if the market crosses the neck-line and also breaks the uptrend that is formed and comes to retest them both. Then certainly we can say that we are going for sells until we reach our support structure at the bottom.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.