GBPNZD Structure
We have a head and shoulders formation with a broken neckline as well as MACD divergence on GBPNZD. The pair could head lower for a retracement. A move down to 1.9988 wouldn't come as a surprise as bulls start to lose steam on H4.
Risk to Reward
Stops: 2.0140
Targets: 2.0030 & 1.9988
Risk to Reward
Stops: 2.0140
Targets: 2.0030 & 1.9988
Note
Head Shoulder formation ✔Head Shoulder Structure neckline breakout ✔
Divergence formation ✔
Support broken ✔
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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.