GBPNZD Chart Technical Outlook sellers to focus on 2.0091
After three days of buying pressure, the corrective sequence has been completed. Sellers have emerged again overnight and look to focus on 2.0091. This is the projected AB leg of the large Bat formation.
The one-hour chart highlights 5-3-5 corrective completion. We can also note an expanding wedge pattern. This offers a downward bias. The first projected support level is located at 2.0445. I would look for any corrective bounces to be limited.