GBP/NZD - Week 17 - Downtrend to continue?

Since the end of March, GBPNZD is in a downtrend structure on the 4h timeframe. When we analyze the structure we see an up move in the middle of April that reversed and now a new push for the uptrend to resume. However before we enter a trade, we should study the price action at the decision zone. The higher probability move in our opinion is a continuation to the downside at least one more time. We will keep you updated.

Trade with care.

Best regards,
Financial Flagship

Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.