GBPNZD: Explanation of the Bearish Pattern
GBPNZD recently reached a key resistance level and formed a head and shoulders pattern.
Last week, the price broke below the neckline and is now retesting it, showing a strong bearish response.
Selling pressure seems to be building, suggesting a potential downward move soon.
The target for this decline is around 2.1803.
Last week, the price broke below the neckline and is now retesting it, showing a strong bearish response.
Selling pressure seems to be building, suggesting a potential downward move soon.
The target for this decline is around 2.1803.
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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.