girolamoaloe

GBPNZD - Pennant - I sold high in the Supply Levels

FX:GBPNZD   British Pound/New Zealand Dollar
I sold GBPNZD             at ~2.2458 in the supply level and my sell trade is still in running.

The Price Action shows a Pennant Pattern. It is a Continuation Pattern for the bearish trend .

I still keep my sell trade. But of course more time the price spends inside the price range, higher becomes the risk to see a reversal behavior.

What do you expect for this currency?

Thank you

Girolamo Aloe
I expect first 2,0600 levels and than 1.9500 level at mid-term..
this level 1,7600- 2.5200 movement's fibonacci retracement levels..
Reply
fib 0,618(2,0600) and fib 0,76(1,9500) levels
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