GBPNZD Bearish Setup
After a long bullish trend for the last couple of weeks, we can clearly see a Change of Character and a beginning of a bearish trend being formed.
After changing character, the price went back up to retest the 0.618 Fibo Golden zone and now there is a very good probability that it resumes its way down.
for additional confirmation, we have to wait for the Stochastic RSI to re-enter into the 20/80.
Another optional confluence could be that the price cross the 50EMA
#GBPNZD #GBPUSD #GBP #Forex #London #Fibinacco #Fib #PriceAction #Stochastic
After changing character, the price went back up to retest the 0.618 Fibo Golden zone and now there is a very good probability that it resumes its way down.
for additional confirmation, we have to wait for the Stochastic RSI to re-enter into the 20/80.
Another optional confluence could be that the price cross the 50EMA
#GBPNZD #GBPUSD #GBP #Forex #London #Fibinacco #Fib #PriceAction #Stochastic
Penafian
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