GBPNZD 240 on an upward retrace towards ML
Hello all,
The Pound New Zealand is showing signs of a retrace towards the 50% balancing area around 2.00979.
Supporting this idea is 1.An 89 Bar fib count from the high, 2. A possible retracing range repeat, 3. The 50% retracement level 2.00979 4. A "Very Shallow" median line just above the 50% retracement level indicating weakness, 5. Two reaction lines crossing around the 50% retracement level. I will be watching closely around the 2 vertical lines for a shorting opportunity should price reach this level.
Sincerely,
TIK
The Pound New Zealand is showing signs of a retrace towards the 50% balancing area around 2.00979.
Supporting this idea is 1.An 89 Bar fib count from the high, 2. A possible retracing range repeat, 3. The 50% retracement level 2.00979 4. A "Very Shallow" median line just above the 50% retracement level indicating weakness, 5. Two reaction lines crossing around the 50% retracement level. I will be watching closely around the 2 vertical lines for a shorting opportunity should price reach this level.
Sincerely,
TIK