GBPNZD: Trend Violation & Mid-Term Outlook 🇬🇧🇳🇿
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GBPNZD was trading in a bullish trend from the beginning of the year.
The price was steadily growing within a rising parallel channel.
Reaching 2.03 level a strong bearish wave initiated.
The price broke a rising channel to the downside violating a bullish trend.
Now the expanding area between 1.935 level (last higher low) and broken support of the channel
serve as the supply/sell zone.
From that, a bearish continuation will be expected.
Next supports:
1.92
1.89
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