Prices look stuck by strong resistance and try to penetrate the area at least 4 times and have not been successful. At present the price is trying to penetrate the compression area, with this situation the possibility is the price of bearish to the support area. If the support area is pierced, the price will continue the bearish until SND below.
This pair uses swing trade analysis, if you want to follow use small lots and money management strategies that you have adjusted.
the initial target is the support area as well as the SR Flip. if the area is broken, then the price will continue its bearish trend until the 2.618 fibo area which is also the SnD area.
GBPNZD Has broken a key level that exist on the daily and weekly chart. GBPNZD has a bearish overview. The analysis shows the bears was able to break through key levels that has existed for a long time. GBPNZD bearish momentum has continued for several months and the down trend does not appear to be over.
Thanks for reading and much success!
-StampsFX
