GBPNZD has broken and closed below a strong horizontal support level on intraday charts.
The blue area marked is also the neckline of an inverted cup & handle pattern.
This violation could lead to further downward movement, with the next targets being 2.148 and then 2.141, support level.
Traders may want to look for opportunities to enter short positions on a retest of the broken support level.
The blue area marked is also the neckline of an inverted cup & handle pattern.
This violation could lead to further downward movement, with the next targets being 2.148 and then 2.141, support level.
Traders may want to look for opportunities to enter short positions on a retest of the broken support level.
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Join our Telegram channel for daily market update 👇👇
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For paid signal👇👇 t.me/linofx1999
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.