GBPNZD: Correction wave before the breakout
Updated
As seen in this daily chart, the GBPNZD might have completed the fifth Elliott's wave within a descending triangle. This pair might form several correction wave that will be followed by a breakout probably above the resistance level. When the breakout do occur, wait for a pullback before entering the market. My bias for the long run is for long.
Note
Breakout below the support area had occured as seen in the 4H and daily time frame followed by a pullback to the support that now hadd became the new resistance area (Support became Resistance). If the price continue to descend, go for short.
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