GBPNZD: POTENTIAL BUY OPPORTUNITY
Following up on the weekly analysis I posted earlier, GBPNZD has broken the daily corrective structure channel, and it's retesting it.
The break out is an impulsive move followed by a corrective structure that seems to be unfolding as a zigzag. The correction in wave (ii) of C has retraced 61.8 - 78.6% of wave (i), and it's within a deep Fibonacci extension zone "blue area." Price is expected to resume higher from or near the current market price.
The break out is an impulsive move followed by a corrective structure that seems to be unfolding as a zigzag. The correction in wave (ii) of C has retraced 61.8 - 78.6% of wave (i), and it's within a deep Fibonacci extension zone "blue area." Price is expected to resume higher from or near the current market price.
Nota
No buy confirmation on this setup. The bias is bearish now and will be updating the short setup soon.
Aviso legal
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