GBPNZD → Realization (distribution) phase. Target 2.065

Sep 2

GBPNZD is in the phase of realization of the previously accumulated potential (descending triangle), at the moment a counter-trend correction is formed, directed to the liquidity area. The fall may continue.



The currency pair entered the range of 2.117 - 2.095. The lower boundary and the liquidity area have not been tested yet, so the potential target is still valid. The counter-trend correction is due to the counter-trend growth of the dollar against the main basket of currency pairs.
On H4, there is a conglomerate of strong resistances ahead, which may prevent the price from the first time, accordingly, a false breakdown and further decline should be considered.

Resistance levels: 2.11, 2.113, 2.12.
Support levels: 2.098, 2.085

The breakdown of the structure, character and the formed confirmation of the bear market indicates that the counter-trend correction can be stopped from the liquidity pool area, so the downward movement can be continued from the mentioned resistance

Rate, share your opinion and questions, let's discuss what's going on with ★ GBPNZD ;)

Regards R. Linda!

Sep 2

Trade active

A retest of the key resistance zone is being formed

Sep 3

Trade active

A resistance breakout is formed, but the currency pair does not continue to grow.
Bears at 0.705 fibo are holding the market. If the price enters the channel, we should wait for a fall