GBPNZD Uptrend Is About To End

Looking in the hourly chart in GBPNZD we may see that price is climbing and soon may reach the upper parallel of a median line. The MACD bearish divergence shows that this up move is losing momentum so most likely price will reverse from the upper parallel. We should wait for a breakout below the uptrend, wait for a correction and go short aiming the median line of the fork.

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Kommentera:

Price looks like broke below the uptrend. Wait for a retracement ideally in a corrective mode and watch for a sell setup to complete at the restest of the upper parallel

Kommentera:

As expected price after the breakout has pulled back to the upper parallel. We may watch for a sell setup at that level