From the beginning of February, GBPNZD is trading in a bearish trend on a daily The pair recently broke a strong horizontal key level, now we see its retest.
On a 4H time frame, the price formed a double top formation. 1.924 - 1.926 is its neckline. We need a 4H candle close below the neckline to confirm a coming bearish move.
Initial target will be 1.906
If the price sets a new higher high on 4H the setup will be invalid.
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