As you can see from the chart, GBPNZD has broken below a daily support zone impulsively. Price is expected to retest this level that lined up with mean value + 50% Fib as resistance in wave "b". Once the corrective wave b is completed, it will give us the chance to go short in wave "c" of (y) of B.
The correction might extend higher but must not trade above the invalidation level for this setup to remain valid.
The correction might extend higher but must not trade above the invalidation level for this setup to remain valid.
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