GBPNZD D1GBP/NZDOANDA:GBPNZDWinlouhMarket Structure Overall structure from August to November is bullish (higher highs & higher lows). Price is now losing momentum and trading in a distribution / consolidation range near the highs. The rising trendline from August is being tested and weakening, suggesting a potential corrective move. Key Levels Resistance zone: 2.3150 – 2.3220 (range high / supply) Immediate support: 2.3000 – 2.2950 Downside targets (Fib retracement): 2.2800 (0.618) 2.2600 (0.786) 2.2450 (0.90) Price Action Multiple rejections from 2.32+ → strong selling pressure. Formation of lower highs on D1 near resistance. If price breaks and closes below 2.300, a deeper pullback becomes likely. Trading Scenarios 🔻 Bearish Correction (Preferred) Sell on: Rejection from 2.315 – 2.322 Or a daily close below 2.300 Targets: TP1: 2.280 TP2: 2.260 TP3: 2.245 Stop-loss: Above 2.330 🔄 Bullish Continuation (Invalidation) Daily close above 2.330 → Bull trend resumes toward 2.35 – 2.38 Overall Bias 📉 Short-term: Bearish correction 📈 Medium-term: Bullish unless 2.260 breaks decisively If you want, I can: Map H4/H1 entries Build a complete RR-based trade plan Compare GBP strength vs NZD weakness for confirmation