RiosTrades
Short

GBPNZD SHORT OPPORTUNITY

FX:GBPNZD   British Pound / New Zealand Dollar
Using price action I see that price has been pushing up with what seems to be little to no resistance holding back buyers from pushing this market higher, what's interesting about this level is that price is around its 61.8% & 78.6% Retracement which also collides with a Resistance level . I believe we can either see price continue pushing above to our 78.6% then finding a significant reason to short this pair with the right confirmations + patience or we can drop into the 4hr time-frame and possibly see price break this minor ascending trendline leading back into the 61.8% then seeing a Double Top form or a break below then pullback to previous structure.

What invalidates these ideas? Price showing high bullish momentum, breaking higher highs showing no slowing down at important levels of possible reversals or price breaking above our major descending trendline (Weekly)
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