GBPNZD reached the top of the 5 month Rising Megaphone and straight after the 1D RSI turned overbought (RSI = 57.238, MACD = 0.009, ADX = 19.804), the price got rejected on a HH. As you can see, the same overbought level caused the April 26th rejection on the HH line. Our target is the HL trendline (TP = 2.0200).
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