FX:GBPNZD   British Pound / New Zealand Dollar
Possible short opportunity on GBPNZD .

We have seen rejection at resistance for the 4th time and so we can expect some bearish momentum.

A break of the 200 day EMA and the trend line at the 1.8975 level would call for a short opportunity where we could see price return to support at the 1.8610 level.

Confirmation of breakout:

- Closed bearish 4Hcandles
- Price breaks below 200 day EMA
- Break in the trendline
- Signals from MACD andRVI

I find GBP pairs to be rather volatile so I would advise a smaller position size and letting the trade run to its target. Also, some important GBP news out tomorrow (1st Feb 2021)

Comments

Good work!
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