GBP/NZD SHORT from 61.8% Fibo on Resistance Area - SELL

٢٢ أغسطس ٢٠٢٢

GBP/NZD following our last analysis that sees the price continue to follow the main trend, Bearish one, in the last sessions, the price pullback exactly in our area on attention, a resistance one ( White rectangle ) and in confluence with the rejection of 61.8% Fibonacci level, the price had a pushdown.
Now the currency by the low volume of August, it's in indecision mode but looking also at the stochastic who turned from the overbought area and the RSI that is turned In Bearish side, our bias made by all these clues are for a new Bearish impulse, following the trend in classic swing trading style. Possible can be a local double TOP like we draw in the chart, touching again the Dynamic trendline before drop definitely.