GBPNZD Short Setup H1

10 Mei 2023

On this pair, we have a price that is located at 1.9830 within a really strong demand zone. Using the Forex48 strategy, I have identified a supply zone around 1.9940, within which a bearish setup has formed. As you can see, I have marked my entry point in yellow. So, to summarize, I will wait for a price bounce in the 1.9940 area, after which I will open a short trade with a target of 1.97.

Let me know what you think.

Happy trading, everyone.

Forex48 Trading Academy