Reasons:
- GBP is relatively weaker than NZD at the moment
- Big bearish candle in D1
- Previous upward channel was re-tested and had price perfectly reversed
- Small upward trend line (green line) was broken and re-tested
- Key level 1.91380 is also the Fibo 23.6% is likely going to the resistance for reversal
Plan:
Sell at 1.91380
Target:
1.89740
- GBP is relatively weaker than NZD at the moment
- Big bearish candle in D1
- Previous upward channel was re-tested and had price perfectly reversed
- Small upward trend line (green line) was broken and re-tested
- Key level 1.91380 is also the Fibo 23.6% is likely going to the resistance for reversal
Plan:
Sell at 1.91380
Target:
1.89740
Note
Long position might also be suitable at 1.89740
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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.
Related publications
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.