On GBP/NZD daily chart bullish trend seems to fade after reaching resistance just below 1.90. Price has been consolidating for a dozen or so days, and it seems that there may be at least a bearish correction here.

GBPNZD D1

Looking for opportunities to open a short position, let’s look at H4 chart. Price respects here a channel with slightly bullish slope. Despite the growth it seems that trend is weakening. Breaking out of the channel will be a signal to declines and the closest support we have in area of 1.83.

GBPNZD H4
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