as we can see here on the GBP/NZD chart that the market has been trending within a long and sharp downtrend for a while now. as of the current market conditions the market has broken done past the original support trend line
to move down to a previous support area
, then create structure and bounce to retest the broken trend line
to now use it as a resistance. after that structure was created the market moved back to the downside and had a strong break past the previous support area
into new lower areas. After a small consolidation period to the lead into a strong move. Back to test the previously broken support as resistance along with the 0.618 fib retracement level. We can also see that there has been a bullish
dogi daily candle which has closed, along with another strong daily bearish
candle. Due to all of these factors, they all indicate that the market is now had a pullback and should now be moving to downside lower areas. So, for now, we will be looking for sells into lower areas to ride them down. Using the right patterns and being patient.