GbpNzd- Next BIG move down?

2020-02-27 15:46:48

GbpNzd is trading upwards for quite some time and the next 600 pips leg up has formed a nice trading channel.
Usually, channels are reversal patterns and this can be true in this case also.
A clear confirmation that a reversal can take place comes with a break o confluence support at 2.0420-2.0450 zone.
A break of this area could lead to a 400 pips drop to 2.00 figure
Levels of interest are 2.03 and 2.02