GBPNZD - looking for a momentum move into 1.9100
Updated
GBPNZD faced big selling pressure on the higher time frames into the 1.9400 resistance, reversing back with the sellers taking control. We also saw a partial downside break of the rising channel established last week. We could possibly see a retracement into intraday resistance as well as a retest of the channel, where a rejection there could see a continuation lower, if the sellers hold their ground.
A possible run towards 1.9100 could be on the cards if the setup validates later on today
A possible run towards 1.9100 could be on the cards if the setup validates later on today
Trade closed: target reached
We saw GBPNZD dip and just spike into the 1.9100 zone reaching the target and closing out the trade. Market found liquidity there, instantly reacted and bounced off that zone.
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