📈 GBPNZD has been overall bearish, trading inside the falling channel in red and it is currently approaching the upper red trendline.
Moreover, the zone 2.055 is a robust supply zone.
🎯 Therefore, the highlighted red circle represents a significant area to consider for potential sell setups, as it marks the intersection of the blue supply and upper red trendline.
📚 As per my trading style: As GBPNZD approaches the red circle zone, I will be actively searching for bearish reversal setups to capture the next bearish impulse movement.
📚 Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly! ~Richard Nasr
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.