GBPNZD H4 | Dropping to pullback support

Title
GBPNZD H4 | Dropping to pullback support

Type
Bullish Bounce

Preference:
Price is falling towards the pivot point of 2.07574 which is a pullback support level and could potentially reverse from here; we could see momentum carry price up to its 1st resistance at 2.09534 which is a swing-high resistance level.

Alternative scenario:
If price breaks below the pivot point, it could hit the 1st support at 2.06688 which is a pullback support that aligns under the 38.2% Fibonacci retracement level.

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Source: Tickmill

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GBPNZD H4 | Dropping to pullback support

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