GBPNZD market is in a nice downtrend on higher timeframes, on the daily as you can see we have recently broke through a key structure level that has been respected multiple times as support and now looks to be respecting it as new resistance with multiple rejections, we also have the downtrend line giving us a nice confluence of resistance we are waiting for rejection and new bearish structure on lower timeframes before this setup is valid.
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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.