The GBPNZD pair has perfectly bounced downward off its descending trendline, visible on daily and H4 timeframes.
The movement is expected to continue down to at least 2.1830 in the coming days. A short-term bullish correction at the current levels cannot be ruled out.
To limit risk exposure and avoid a wide stop loss, an ideal entry could be around 2.2050 or even 2.2100.
It will then be time to observe the pair’s behavior on its ascending trendline or its next horizontal support once it reaches that level.
The movement is expected to continue down to at least 2.1830 in the coming days. A short-term bullish correction at the current levels cannot be ruled out.
To limit risk exposure and avoid a wide stop loss, an ideal entry could be around 2.2050 or even 2.2100.
It will then be time to observe the pair’s behavior on its ascending trendline or its next horizontal support once it reaches that level.
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My free forex signals in real time: bit.ly/3RTlKwZ
My track record: bit.ly/4jFJ6nj
My track record: bit.ly/4jFJ6nj
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.