Bearish GBPNZD - 05 December 2024

EURUSD Forex

GBPNZD

Bearish Closed

Charts by TradingView

A Price Action Descending Triangle pattern formation on the 5 Min time frame chart supports GBPNZD Bearish bias. A break of 2.16870 will support the fall towards the target of 2.16630 the break of 2.16630 would push the price to 2.16470.

SUPPORT AND RESISTANCE LEVELS

Pivot Point 2.2227
Support S1: 2.2216, S2: 2.2207 , S3: 2.2196
Resistance R1: 2.2236 , R2: 2.2247 , R3: 2.2256

Brokers

Open account

Summary

Instrument :

GBPNZD

Direction :

Bearish

Pattern Name :

Descending Triangle

Probability :

67%

Entry Level :

2.16870

Activation Time :

2024-12-05 19:00

Age :

12 Bars

Progress :

100%

Close Time :

2024-12-05 19:55

Time Frame :

5 Min

Status :

Closed

CHART ANALYSIS

MORE SIGNALS

There are no signals right now

Descending Triangle

A descending triangle is a bearish chart pattern used in technical analysis that is created by drawing one trend line that connects a series of lower highs and a second horizontal trend line that connects a series of lows. a descending triangle can be either bearish or bullish. Traditionally, a regular descending triangle pattern is considered to be a bearish chart pattern. However, a descending triangle pattern can also be bullish.