GBPNZD: Looking for Shorts, Following the Trend
Looking at the bigger picture in the GBPNZD there is no question that price is in a downtrend for good. Price is being traded below 1.86265 – a key resistance level – another factor to consider that we are in a bearish context.
Looking at the hourly chart of the market I have highlighted a short-term resistance level (previous support) – the 1.84840. Price is heading towards the level most likely for a stop run. In case price breaks above just keep an eye to price reaching the 1.85300 level. A bearish order block is sitting at the left showing where most likely sellers are sitting at the moment.
Consider going short aiming at current support level – the 1.83550.
Looking at the hourly chart of the market I have highlighted a short-term resistance level (previous support) – the 1.84840. Price is heading towards the level most likely for a stop run. In case price breaks above just keep an eye to price reaching the 1.85300 level. A bearish order block is sitting at the left showing where most likely sellers are sitting at the moment.
Consider going short aiming at current support level – the 1.83550.