GBPNZD Potential Sell OffThis pair has exhausted the bullish movement as we predicated before, It seems with the bearing engulfing on Daily with a new low, this pair is looking to drop like flies soon. We are already in a sell and just hoping our biased is correct. Trade with care and use proper risk management. Good luck.
Gbpnzdshort
GBPNZD H1GBPNZD we see strong bullish channel on h1 TF, Price broke channel resistance and after that started consolidation between 1.9190 to 1.9370 levels. Now we have two scenario...
If price touches consolidation support and goes up uptrend will continue.
If price will break down 1.3190support it will be the confirmation of new downtrend.
GBPNZD | New PerspectiveFollowing a 500pips move since my last publication on this pair (see link below for reference purposes); It appears we do have another trading opportunity here on the GBPNZD.
The appearance of a reversal set-up on the 1H time frame coupled with the obvious that the price is currently within a supply zone; we might want to consider a selling opportunity on this one as we anticipate a breakdown/retest of the key level @ 1.94 for confirmation.
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Bearish Cypher GBPNZD 4HBearish Cypher spotted on the GBPNZD 4H
Set an aggressive SELL limit order at 1.92068
Stop loss set at 1.24924
Take profit 1 is at 1.91230
Take profit 2 is at 1.90278
If triggered in, I will move TP based on the extreme of the D leg completion
If TP1 is hit I Will roll stop loss to break even for TP2
GBPNZD top-down analysisHello traders, this is the full breakdown of this pair. We will take this trade if all the conditions are satisfied as discussed in the analysis. Smash the like button if you find value in this analysis and drop a comment if you have any questions or let me know which pair to cover in my next analysis.
GBPNZD | BOTTOM OUT?GBPNZD has been in strong bearish trend from the late January of this year. It is trading at important support zone which were reactive in the past (as highlighted in the chart). We are expecting the same from the support as bullish divergence is printed on the chart as well.
Alternatively, breaking below the support will add more pressure in the pair and price can drop to further lows.
Play your levels accordingly.