GBP/NZD potential short entry at 2.08571
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The GBP/NZD is expected to retrace to the 2.08571 resistance level before continuing its bearish trend. A sell entry is suggested at this level, with a stop loss at 2.10102 and take profit levels at 2.07247, 2.05360, and 2.02963. The trade has a risk-to-reward ratio of 1:3.6, with a maximum profit of 2.69% and a maximum loss of 0.74%. The market structure remains bearish, and no major news events are expected to impact the British Pound or New Zealand dollar this week.
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