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Short

GBPNZD counter trend line break short

FX:GBPNZD   British Pound / New Zealand Dollar
87 0 0
Break of RSI trendline indicating early on some underlying bearish momentum, a mini double top having formed and rejected both the 61.8% retracement level and 100 MA, two consecutive bearish engulfing patterns having formed around said level, price action below kumo cloud on the daily and weekly, MA cross over on the 2 hour, and now the counter trendline break in which we have been waiting for. Target at around the next significant demand level which is uncoincidentally the base of the counter trend line , with a stop above the previous swing high (on either the 4 hour or 2 hour) or 100 sma on either time frame (depending on your risk for appetite) allowing for good risk to reward
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