In the GBPNZD market, the price has retraced to an area of significant supply on the 4-hour chart, coinciding with an internal daily resistance level. An anticipation of a selling market is prevalent in this region. It's worth noting that the overall sentiment remains bullish on lower timeframes.
A prudent approach involves closely monitoring the structure on lower timeframes. It is advisable to exercise patience and await a discernible shift in market character from bullish to bearish before considering shorting opportunities. Wishing you success in your trading endeavors.
A prudent approach involves closely monitoring the structure on lower timeframes. It is advisable to exercise patience and await a discernible shift in market character from bullish to bearish before considering shorting opportunities. Wishing you success in your trading endeavors.