GBPNZD SHORT

GBPNZD has been on an uptrend for quite a while and looks to be preparing for a move to the downside. After forming a double top on the daily timeframe. it has formed a series of double tops on the smaller timeframe. A break and retest below the 50DMA will indicate that price is ready to go further to the downside. Short term Profit should be at the 2.03 level where we expect first set of retracement to happen before further movement to the downside to test the dynamic support of the 200DMA.