Bearish Bias on GBPNZD at H1 Time Frame
Hi 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.
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.
Trade closed: target reached