GBP/NZD Bearish Movement coming. By ThinkingAntsOk
4H CHART EXPLANATION:
We observe that price left a clear rejection to the Confluence Zone explained on the Daily timeframe. Now, it is consolidating on a rectangle, so, we are waiting for a breakout of this figure. The first target of the movement is the Support Zone (previous resistance Zone) at 2.000. If this zone is penetrated, then price has potential to reach the Ascending Trendline.
DAILY CHART ANALYSIS:
We observe that price left a clear rejection to the Confluence Zone explained on the Daily timeframe. Now, it is consolidating on a rectangle, so, we are waiting for a breakout of this figure. The first target of the movement is the Support Zone (previous resistance Zone) at 2.000. If this zone is penetrated, then price has potential to reach the Ascending Trendline.
DAILY CHART ANALYSIS: