GBPNZD has just formed a HL, and exact 600 pip drop from HH to HL has occurred after the previous drop which was also 600 pips and both have taken exactly 11 Days - suggesting an upwards move nicely following the channel formed. Also a nice bounce off the 61.8% on the 4H Fib ( 61.8% ) Fib is the 2nd most important Fib level, therefore being another confluence to taking this trade.