The correction's gone pretty good at 78% fibonacci, but if this is an early-staged downtrend, than it also confirms the last zone as being a distribution. The LL's there, and to confirm this LH, we need another LL, which I won't wait for. Also, the 200 SMA is flattening, meaning there is still not a definite direction on the overall trends. But, finally, I can see that the 2.000 psychological level has provided enough supply for the price to plummet.
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GBPNZD Full analysis:
