#GBPNZD more bearish move to come
Updated
This is my prediction for GBPNZD for the next couple of days.
As you can see in the chart, the price seems to be completing a 5-wave bearish impulsive move, which could end by tomorrow.
Following this bearish move, we could assume a bullish corrective ABC formation, which could take us all the way back to the level indicated by the arrow.
From there, we could expect another impulsive bearish move, which could be either wave 3 or wave C.
We do not know this for sure at this point, so we should wait and analyze the price action once the time is relevant.
Let me know if you would like me to publish an analysis in a lower timeframe on this chart to take advantage of this rally.
As you can see in the chart, the price seems to be completing a 5-wave bearish impulsive move, which could end by tomorrow.
Following this bearish move, we could assume a bullish corrective ABC formation, which could take us all the way back to the level indicated by the arrow.
From there, we could expect another impulsive bearish move, which could be either wave 3 or wave C.
We do not know this for sure at this point, so we should wait and analyze the price action once the time is relevant.
Let me know if you would like me to publish an analysis in a lower timeframe on this chart to take advantage of this rally.
Note
With this bearish move anticipated yesterday, we can expect the price to begin forming a bottom for a short-term bullish corrective move.I do not recommend opening a long position due to the potential complexity of the correction. A better decision would be to wait for the bullish correction to end and then go short.
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