Get started

1d

GBPNZD DOWNTREND CHANNEL AND TRIANGLEFX:GBPNZD is in a downtrend channel. It had touch the upper resistance of the channel and triangle. The price could go down near the previous support, being the first take profit. If the price keep going down can be reach the 50% fibonacci extension of the trend, being as well the 88.6% ab harmonic pattern that could be formed in the future. The indicators like the RSI shows low strength going down and currency strength are both on 58 level. GBP stregth shows can be weaker than the NZD
Short
by Hectorrr
Cypher- Shark - 5-0 Constellation FINALA Shark pattern is nested in a larger slightly broken Cypher pattern with the possibility of a preceding 5-0 pattern. The most likely point for bearish reversal is at 0.74406 due to alignment of 0.382 of CD from both Cypher and Shark. However if price continues moving upward then the half way point for CD of Shark @ 0.75648 becomes relevant due to possibility of 5-0 pattern, which is a 1 step extension of Shark First support line is at 0.71579 - a 1.618 extension of AB from Shark The strongest support range is between 0.71029 and 0.70436 where D from the Broken Cypher and Shark are in close proximity to one another (dark green) If price drops below that then the official 1.618-2.24 of AB reversal range takes over again to extend D from between 1.13 of XA to 2.24 of AB (light green) If that happens it will probably be more difficult for price to jump back over main support range which now becomes resistance If price passes 0.6814 (2.24 of AB) shorting is recommended, otherwise go long until 0.74406 (0.382 of CD) or set two stop losses for 0.382 and 0.50 of CD @ 0.75648
by JoshuaGalinus