🔸Hello traders, let's review the 8 hour chart for GBPNZD today. Expecting reversal after we hit strong overhead resistance at 2.0900. currently risk/reward shifted in bears favor.
🔸previously V-shape recovery completed at 2.0900, however right now bears will likely take over in this market. below bears will target mirror s/r level at 2.0300. strong risk/reward on sell side now.
🔸Recommended strategy for GBPNZD bears: short at market / short sell any rips and rallies towards resistance, SL 80 pips TP1 +200 pips TP2 +400 pips. swing trade setup, so naturally will take more time to hit TP. good luck, traders!
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