GBPNZD Possible Continuation Downside, Wait for Confirmation

1 thg 6, 2022

Hi traders:

Also looking at GBPNZD for continuation bearish price action.

After the initial bearish impulse from the top of the higher time frame structure, price was on route to break out of the structure.

Instead, it started to form an ascending channel like structure, correcting the price within.

However, the lower time frame correction is not showing signs of bullish momentum or price action. It its more of a bearish continuation correction, that could lead to another downside move.

Be on the lookout for bearish continuation corrections on the lower time frames, to confirm and validate the sell.

thank you