GBPNZD Short ideaGBP/NZDOANDA:GBPNZDPantosFXI’m looking at GBPNZD on the 2H chart. The market recently made a strong push up and created a high around 2.2720. After that move the price started correcting and we can clearly see a bearish pullback forming with lower highs. Now price is retracing back up into the 0.50 retracement area around 2.2550 to 2.2570. This zone also lines up with previous structure where price reacted before. For me this is a premium area inside the current bearish correction. The move down from the top was impulsive which tells me sellers were aggressive. When I see a strong impulsive move like that, I usually expect the market to retrace first and then potentially continue in the same direction. Right now price is approaching that 0.50 zone. If sellers step in here and we see rejection from this area, I’m interested in shorts. The structure suggests this could be a continuation of the bearish move. Below the market the main draw on liquidity is the previous lows around 2.2400. That’s where stops from buyers are resting and where price could be attracted next. So the idea is simple. If price reacts from the 0.50 area and starts showing weakness again, I would look for short opportunities targeting the lows around 2.2400. If price breaks above this zone with strong bullish momentum and starts closing above it, then the bearish idea becomes weaker and I would step aside because that would mean buyers are regaining control.