Title
GBPNZD H4 | Reversal of 50% Fibo resistance

Type
Bearish Reversal

Preference:
Price is trading close to the pivot point of 2.0418 which is a pullback resistance that aligns with the 50.0% Fibonacci retracement level and could potentially reverse from here; we could see momentum carry price down to its 1st support at 2.02752 which is a pullback support level.

Alternative scenario:
If price breaks above the pivot point, it could hit the 1st resistance at 2.05777 which is a pullback resistance that aligns with the 23.6% Fibonacci retracement level.

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