Bearish Bias on GBPNZD at H1 Time FrameHi there
GBPNZD appears bearish at the H1 time frame, aiming for the 2.05487 area for a bias of 2.04275.
The price came down from the 2.085 to 2.05154 low and then rose to a lower high in the 2.0800 range, making the current price movement a continuation of the bearish momentum from that high area range. Also, the price is below a minor supply zone, so there needs to be a break in the 2.06097 low for clarity in that it won't push up.
The setup will be invalidated if the price goes above 2.07338.
Happy Trading,
K.