GBP/NZD Long-Term Trend: Bearish
Key Resistance Levels: 1.92250, 1.96600, 1.99609.
Key Support Levels: 1.90225, 1.89253, 1.89000.
Daily Time Frame:
The price on the higher time frame we can see that the price is in a clear downward movement where a series of lower highs and lows has been posted. We are precisely now in the second leg down at the end of the correction. So, we can a new impulsive wave to the downside.
GBP/NZD Medium-Term Trend: Bearish
1-Hr Time Frame:
On the lower time frame, the price found sellers near the 61.80% Fibonacci retracement where it is traded inside a bearish flag formation. We expect that the market will break this pattern to the downside toward the mentioned target profits.
Sell Market Order @ 1.91635
TP 1 @ 1.90351
TP 2 @ 1.89253
Stop Loss @ 1.92060
Trade Safely 🙂