GBPNZD, H4
On the H4, GBPNZD has formed a descending channel pattern. The price falsely broke the upper trend line and started falling. %R came out of the overbought zone, and the price fell below MA50.
- GBPNZD selling can be considered when consolidating below 2.1480 with a target of 2.1390;
Trading foreign currencies on margin involves significant risks and may not be suitable for everyone, as high leverage can increase both potential gains and losses. Before entering the foreign exchange market, it is essential to evaluate your investment goals, personal experience, and risk tolerance.
Author: Egor Schmidt
