Price has been moving in a down trend the previous days.
Now with the new low price has formed, and a break of the previous low, I am expecting price to make a retracement and ultimately form another lower high.
Once price broke past the previous low and closed outside of the trend line, price found support at the demand level.
If you move to the 4...
Long GBPNZD:
1. Based on the last 16yrs of daily close data (since 01/01/2000 to date) GBPNZD has a cumulative probability of a =>6th day lower at 0.99%, hence there is a implied 99% chance of reversal on the daily.
2. Also we see the Z-Score for, Monthly, 3m and 2wk all above 1.5SD - with 1m heavily over sold at -2SD.
3. Fundamentally Sterling looks a little...
