market execution: GBP/NZD analysis
A flow of highs/lows has consistently being formed from the 1.97000 psych region towards the downside, we can look at current price action as a retracement (lower high) pattern formed which has bounced and tapped our downside trendline in confluence with wick rejections around the fib regions. A new leg could be formed and the price could be heading towards 1.95000 and lower from there.
risk/reward ratio is 1:2.75
for any questions feel free to privately message me and ask, here to inform and educate.
risk/reward ratio is 1:2.75
for any questions feel free to privately message me and ask, here to inform and educate.
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.