GBPNZD: Consolidation Trading 🇬🇧🇳🇿

٢٠ أغسطس ٢٠٢١

GBPNZD is trading within a wide horizontal trading range on a daily.
1.962 - 1.967 is its support.
2.005 - 2.008 is its resistance.

Approaching the range's upper boundary the price formed a cute dodji candle on a daily.

On hourly time frame, the pair formed a head and shoulders pattern.
1.99 - 1.993 is its neckline.

To sell with a confirmation, wait for a neckline breakout (hourly candle close below the yellow area).
Goals will be 1.98/1.97

In case of a bullish violation of a head level, the setup will be invalid!

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