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GBPNZD: Trend Violation & Mid-Term Outlook



GBPNZD was trading in a bullish trend from the beginning of the year.

The price was steadily growing within a rising parallel channel .


Reaching 2.03 level a strong bearish wave initiated.

The price broke a rising channel to the downside violating a bullish trend .


Now the expanding area between 1.935 level (last higher low) and broken support of the channel

serve as the supply/sell zone.

From that, a bearish continuation will be expected.


Next supports:

1.92

1.89


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