GBPNZD - New Bear Trend Setting in
It appears a new bear trend is setting in on GBPNZD.
The bullish channel has now broken to the down side and price has broken back below a major key level (pink horizontal line at 1.94000) which is demonstrated on the daily and weekly chart attached.
Many other NZD pairs are showing bullish signs for new bull runs.
I expect GBPNZD to retest the 1.94000 major key line and a great shorting opportunity may occur at this level.
Here is the weekly chart demonstrating the strength of the 1.94000 key line:
The bullish channel has now broken to the down side and price has broken back below a major key level (pink horizontal line at 1.94000) which is demonstrated on the daily and weekly chart attached.
Many other NZD pairs are showing bullish signs for new bull runs.
I expect GBPNZD to retest the 1.94000 major key line and a great shorting opportunity may occur at this level.
Here is the weekly chart demonstrating the strength of the 1.94000 key line: