GBPNZD after the factI was hesitant to post this trade setup and idea earlier in the week, however with the proper fundamental analysis as well as technicals there were clear indicators that GBPNZD was going to have a large selloff until it retested the trendline set in the 4h chart as well as the daily trend, if it breaks the "heartline" we will seek a reentry for a bearish movement. It is important to note the sudden drop to the take profit was due to the NZD central bank holding rates constant this time around where in terms means that the NZD appreciates in value. Furthermore, these types of scenarios tend to follow the given trend that is being formed, in this case a bearish movement was beginning hence the sell off as well. Hopefully this was insightful and next time I'll post my trade setup before it occurs. Please ignore the stop loss as it was a tentative one and I had a slightly higher one as well as an entry at a slightly later time slot yet at the same indicated prices
