Two downward channels to keep an eye on for GBPNZD on the 4 hourly timeframe. Price currently looks like it is preparing to take out the recent low as we continue to move away from the 78.6 % Fibonacci level. Price is also looking to move away from the support turned resistance zone (pink area), which should also support a move to the downside, as bears look to take out any stops placed below the recent swing low
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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.