GBPNZD: Important Breakout & Bearish Outlook
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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