GBPNZD Price Analysis - Preparing to Resume the Downtrend
The GBPNZD pair has recently broken down from a significant structure zone near the 2.1150 level.
This breakdown suggests a potential move towards the 2.0900 and 2.0750 levels.
However, this downward movement may take some time to fully materialize.
In the short term, we might face a false bullish breakout above 2.1150 before the bearish trend resumes. This pattern has been observed previously on the left side of the structure, indicating the need for caution.
Despite this, the overall swing direction is expected to begin soon.
You may find more details in the chart!
Thank you and Good Luck!
❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️
The GBPNZD pair has recently broken down from a significant structure zone near the 2.1150 level.
This breakdown suggests a potential move towards the 2.0900 and 2.0750 levels.
However, this downward movement may take some time to fully materialize.
In the short term, we might face a false bullish breakout above 2.1150 before the bearish trend resumes. This pattern has been observed previously on the left side of the structure, indicating the need for caution.
Despite this, the overall swing direction is expected to begin soon.
You may find more details in the chart!
Thank you and Good Luck!
❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️
Note
As I explained yesterday, there was a higher likelihood that GBPNZD could experience a false bullish breakout before moving down again. This perspective was based on past price movements.
Today, the price indeed moved down, supported by unexpected news from the Bank of England (BoE) that came in two hours before the opening of the London market.
🚨Bank of England Governor Hints at More Aggressive Rate Cuts
In an exclusive interview with The Guardian, Governor Andrew Bailey suggested that the BoE might become “a bit more aggressive” in cutting interest rates if inflation data continues to improve. The market reacted negatively to this news, causing a decline in GBP.
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✅MY Free Signals
t.me/TradingPuzzles
✅Personal Telegram
t.me/KlejdiCuni
✅YouTube
youtube.com/@TradingPuzzles
t.me/TradingPuzzles
✅Personal Telegram
t.me/KlejdiCuni
✅YouTube
youtube.com/@TradingPuzzles
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.