GBPNZD Reverses from Bearish Trend After Breaking Key Trendline
The GBPNZD currency pair had been falling since 30 July 2024, hitting a low of 2.0990 by 29 August 2024. After that, the price started to show strength, suggesting the downtrend was losing steam.
On 3 September 2024, the price broke above the trendline, which was acting as resistance. This breakout signaled a change in direction, and the pair began to move upward, indicating that the market was turning bullish after the previous month of declines.
In simpler terms, the downtrend ended, and the market started going up after breaking through the resistance line.
On 3 September 2024, the price broke above the trendline, which was acting as resistance. This breakout signaled a change in direction, and the pair began to move upward, indicating that the market was turning bullish after the previous month of declines.
In simpler terms, the downtrend ended, and the market started going up after breaking through the resistance line.
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