GBPNZD WILL FALL!!! HERE IS WHY!

4 oct. 2019

hey traders,

I was paying close attention to GBPNZD these last two weeks.
The reason is that the pair has recently approached a 2019's high and was strongly rejected.
Sellers have been pushing the market to the support line of a rising channel
and we see the complete reluctance of buyers to open long trades on dip,
so the market has set a lower high.

Now the market has recently violated the boundaries of a channel
and we see a rise in selling volumes.

+ taking into account the historical perspective we see how similar the sentiment was this spring.

based on these observations my bias on pair is bearish and I expect bearish continuation to lower structure levels.

Target levels are 1.95 and 1.88

*if you like this idea, please, like it and leave a comment! thanks :)

4 oct. 2019

Note

Made a mistake
Target 1 is 1.92:)