Nica521

GBPNZD testing backside of uptrendline

Short
FX:GBPNZD   British Pound / New Zealand Dollar
Touching the backside of the up trend line . If it fails it will head down to 1.618. If it penetrates the trend line it should continue bullish to the downtrend line - there is a missed pivot at 2.0105 and a weekly pivot at 2.0115 which it may want to hit if it penetrates the uptend line.

Looking for crown/head and shoulder formation on smaller TF for possible reversal to the 1.618 at 1.84365.

Notes:
First FIB retracement it hit the 0.27 level (2.07866) to extend down to the 1.27(1.96565)
Second FIB retracement it hit the 0.27 level (2.05422 to extend to the 1.27(1.92402)
Currently on third retracement.

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