GBPNZD - Setting up for a HUGE Short

GBP, is setting up for the bears to take control, after MTF analysis shows price action underneath 200ema.

GBP/NZD on the 1hour timeframe, Doji candle rejection off of the 200ema, price action in particular really interests me - It is currently 'hovering' above the ascending trendline support level which could create a really good opportunity. Like an eagle I am watching for the break of the hover support level, before testing the ascending trendline..... chart with notes to follow …….

Kommentar:

GBP/NZD Update, over extension on the close of the hover level and currently fake breakdown and bullish engulfing bar on the 1 hour, negating the trade idea for a further breakdown / continuation..... The nature of the market is clearly supporting a Bullish GBP, so we sit on our hands and await further insight to the market direction.....