GBPNZD - Inside bar Pin Bar combination
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.
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.