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Veejahbee

GBPNZD MARKET STRUCTURE + ELLIOT WAVE SUGGESTING A SELL-OFF

Short
British Pound / New Zealand Dollar (FX:GBPNZD)  
Veejahbee  
FX:GBPNZD   British Pound / New Zealand Dollar
Trend Analysis Chart Patterns Wave Analysis GBPNZD gbpnzdshort gbpnzdsell gbpnzdsignal gbpnzdsetup elliotwaveanalysis elliotwavecount brexit
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trendanalysis chartpattern waveanalysis gbpnzd gbpnzdshort gbpnzdsell gbpnzdsignal gbpnzdsetup elliotwaveanalysis elliotwavecount brexit
The market structure of GBPNZD shows how the price breakout of major ascending trendline and support zone. Price is currently retesting the broken levels that lined up with a descending trendline. Price has the potential to decline from or near the current market price.

snapshot

Elliot wave also shows a series of 1-2, (i)-(ii) sequence which could mean a rapid sell-off should be expected.
What's your thought on GBPNZD?

Best of luck on the chart!
Veejahbee.
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