GBPNZD - Inside bar Pin Bar combination

FX:GBPNZD   British Pound / New Zealand Dollar
23 0 2
The bearish price action that resulted from yesterday’s session is intriguing for a few reasons.

1. Rejection from a critical level that dates back to August of 2015. This level previously served as support between August of last year and February of this year before the Brexit-inspired selloff put the pair below the key handle.
2. Bearish price action formed immediately following Monday’s inside bar . Technically, that makes the pattern an inside bar pin bar combination, a pattern that is often more reliable than a standalone pin bar .
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