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GBPNZD FAKE BREAKOUT

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Paun British / Dolar New Zealand (FX:GBPNZD)  
AIEtrading  
FX:GBPNZD   Paun British / Dolar New Zealand
Trend Analysis Wave Analysis Beyond Technical Analysis
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trendanalysis waveanalysis beyondta
As we can see GBPNZD has approached a liquidation zone. GBP is dropping in value for the last couple of weeks and NZD looks like it will turn bullish. The pair is highly overbought and candlestick patterns have already confirmed that bearish reversal is very likely. Thus, our hypothesis is that the pair will have a bearish reversal. We suggest the following:

Entry: 2.02-2.03
SL: 2.05 or higher

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