💡 Ideas For #GBPNZD 🇬🇧🇦🇺
📈 Realization (distribution) phase. Target 2.065
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GBPNZD is in the phase of realization of the previously accumulated potential (descending triangle), at the moment a counter-trend correction is formed, directed to the liquidity area. The fall may continue
The currency pair entered the range of 2.117 - 2.095. The lower boundary and the liquidity area have not been tested yet, so the potential target is still valid. The counter-trend correction is due to the counter-trend growth of the dollar against the main basket of currency pairs.
On H4, there is a conglomerate of strong resistances ahead, which may prevent the price from the first time, accordingly, a false breakdown and further decline should be considered.
Resistance levels: 2.11, 2.113, 2.12.
Support levels: 2.098, 2.085
The breakdown of the structure, character and the formed confirmation of the bear market indicates that the counter-trend correction can be stopped from the liquidity pool area, so the downward movement can be continued from the mentioned resistance
📈 Realization (distribution) phase. Target 2.065
———————————————
GBPNZD is in the phase of realization of the previously accumulated potential (descending triangle), at the moment a counter-trend correction is formed, directed to the liquidity area. The fall may continue
The currency pair entered the range of 2.117 - 2.095. The lower boundary and the liquidity area have not been tested yet, so the potential target is still valid. The counter-trend correction is due to the counter-trend growth of the dollar against the main basket of currency pairs.
On H4, there is a conglomerate of strong resistances ahead, which may prevent the price from the first time, accordingly, a false breakdown and further decline should be considered.
Resistance levels: 2.11, 2.113, 2.12.
Support levels: 2.098, 2.085
The breakdown of the structure, character and the formed confirmation of the bear market indicates that the counter-trend correction can be stopped from the liquidity pool area, so the downward movement can be continued from the mentioned resistance
