potential Double top on GBPNZD (sell setup)
As we notice the pair managed to break uptrend, beside moving in a small descending channel, forming the second top in a potential double top pattern. currently prices broke a MA 50 and a Fibonacci retracement 61.8%. i expect with prices staying lower these levels and managed of breaking the descending channel that GBPNZD targeting support level at 1.8862, breaking this levels down put further decline pressure on the pair and we would see prices reaching to levels of 1.8326 then 1.8250 ( target of double top).
i ll put sell order at current levels targeting 1.8560 and pending sell order at 1.8540 targeting 1.8250.
i ll put sell order at current levels targeting 1.8560 and pending sell order at 1.8540 targeting 1.8250.
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