GBP/NZD has been in an uptrend, respecting the ascending channel since the beginning of the year
Currently the price is almost touching the bottom trend line (retracement).
I expect the price to show a reversal, with the buyers taking control of the market, increasing the price and continuing the ascending channel.
I will wait for a clear rejection of this trend line for a conformation and enter the trade. The expected movement is shown by the grey path drawn.
Currently the price is almost touching the bottom trend line (retracement).
I expect the price to show a reversal, with the buyers taking control of the market, increasing the price and continuing the ascending channel.
I will wait for a clear rejection of this trend line for a conformation and enter the trade. The expected movement is shown by the grey path drawn.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.