GBPNZD Short Trade

GBPNZD Daily Chart - Looking at this pair on the daily timeframe price has started to decline after reaching our 2.05000 weekly resistance level. We have broken our inner daily now we need to watch our 2.0000 psychological level for a potential lower high.

GBPNZD Daily Continued

GBPNZD - Looking at our fibonacci zone from swing high to low we can see our 61.8% golden fibonacci ratio lines up with our 2.000 level. If price can print a lower high around this zone I will be looking for a potential short trade down to 1.93000 zone which is our 2nd point of our trend line and our previous higher low on the daily chart where we can look for the bullish trend to potentially continue.

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