GBPNZD: Waiting For Breakout
Updated
Classic moment of confusion on GBPNZD pair.
From buyers perspective, we see a major rising trend line
that serves as a safe point to buy from.
From sellers perspective, the market remains bearish from the beginning of the month
and the price keeps falling within a falling parallel channel.
To clarify the direction of the next swing move, I suggest waiting for a breakout.
In case of a bullish breakout of a falling channel,
a bullish continuation will be expected.
In case of a bearish breakout of a major trend line,
the market will most likely drop sharply.
Wait for a breakout & follow the market.
What do you think will happen?
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