Trade idea.
We can see that GBPNZD is currently retracing lower. But it is doing that in a form of a falling wedge, which, according to TA textbooks, tends to break to the upside. That said, until wee see that break, we cannot really talk about that yet. If the rate suddenly falls below the 2.0000 mark, then we will ignore the idea of possible falling wedge.
Please see the chart for levels and targets.
Don't forget your stop-loss.
We can see that GBPNZD is currently retracing lower. But it is doing that in a form of a falling wedge, which, according to TA textbooks, tends to break to the upside. That said, until wee see that break, we cannot really talk about that yet. If the rate suddenly falls below the 2.0000 mark, then we will ignore the idea of possible falling wedge.
Please see the chart for levels and targets.
Don't forget your stop-loss.
Note
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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.