Lingrid | GBPNZD double TOP the RESISTANCE

11 בספט׳

GBPNZD has fallen below the 2.1300 resistance zone. Observing the past few daily candles, we can see the formation of rejection bars with long wicks, indicating potential bearish pressure in the market. Recently, the market has also formed a double top pattern, suggesting that bullish attempts were rejected twice, reinforcing the selling sentiment. Given this price action, I expect the market to move lower, potentially breaking through the upward channel that has formed. This channel appears to be a pullback against the overall major bearish trend, and a successful break below it would likely signal further downside momentum. My target is the support level at 2.11800


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