GBPNZD Could Possibly Start a Bearish Move from 2.3250

[TradingPuzzles]

GBPNZD Could Possibly Start a Bearish Move from 2.3250

From our previous analysis, GBPNZD tested the daily structure zone near 2.3200 and reacted strongly the last time. The pair has since dropped nearly 500 pips by reaching 2.2700

The price tested once again at 2.3200 - 2.3250. There is a high possibility that a downward movement will start again.

One problem at the moment remains the fact that NZD is still weak, but who knows, it could suddenly become stronger because the whole market has been crazy lately.

Whether this is the real reason remains uncertain. What is clear is that GBPNZD looks set to fall further, with possible targets at 2.2650 and 2.2350, as depicted in the chart.

You may find more details in the chart!
Thank you and Good Luck!