GBPNZD: Sell Opportunity After Support Break

19 Oca

GBPNZD has broken a key support zone signaling a potential increase in bearish momentum. The price is currently retesting this broken support, which now serves as resistance.

If sellers confirm resistance at this level, I expect the price to move downward toward 2.15600, aligning with the bearish trend. On the other hand, a failure to hold resistance could indicate a bullish shift.

Traders should watch for bearish confirmation signals, such as bearish engulfing candles or strong selling volume, before entering short positions.

19 Oca

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