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Trader_97

GBPNZD Structure

Short
British Pound / New Zealand Dollar (FX:GBPNZD)  
Trader_97 Updated   
FX:GBPNZD   British Pound / New Zealand Dollar
Trend Analysis Chart Patterns Technical Indicators
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trendanalysis chartpattern indicator
We have a head and shoulders formation with a broken neckline as well as MACD divergence on GBPNZD. The pair could head lower for a retracement. A move down to 1.9988 wouldn't come as a surprise as bulls start to lose steam on H4.

Risk to Reward

Stops: 2.0140
Targets: 2.0030 & 1.9988
Comment:
Head Shoulder formation ✔
Head Shoulder Structure neckline breakout ✔
Divergence formation ✔
Support broken ✔
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