GBPNZD, Paramount H-S-Formation Completes, Perspectives Ahead!Hello,
Welcome to this analysis about GBPNZD, we are looking at the 4-hour timeframe perspectives. As I discovered GBPNZD is completing a major formation now that will show up further determinations when fully completed which is likely to emerge in the near future. As when looking at my chart we can watch there how GBPNZD has established this major head-and-shoulder-formation with the left shoulder, head as well as right shoulder already completed. Now as GBPNZD has settled below the neckline this is the technical confirmation and completion of the formation and is taking the form of a bear-flag pattern as it is marked in my chart. Once GBPNZD moves below the lower threshold of the bear-flag this will indicate further bearish continuations to the downside. Also what is likely to come up here when GBPNZD continues with the continuations is the death-cross in which the 65-EMA in black crosses below the 200-EMA in blue which will add to the bearish perspectives. The main targets for GBPNZD are within the 1.946 level marked in my chart in blue, once this level has been reached the situation needs to be elevated anew and GBPNZD needs to show if it manages to stabilize or sets up for further bearish continuations.
In this manner, thank you for watching my update-analysis about GBPNZD and the main head-and-shoulder-formation development, support the analysis with a like and follow or comment for more market insight!
Information provided is only educational and should not be used to take action in the market.
