Get started
British Pound / New Zealand Dollar
Long

Bullish GBPNZD to top of regression channel

By jer8877
Updated
GBPNZD finally broke the low volatility creep and dropped to the bottom of the downward regression channel. Looking for momentum confirmation to the upside before entering for a move back to 0.618 (~1.919), the top of the channel. Then we'll see if it can break out and move higher. Despite recent relief from Fed, I see generally bearish conditions (i.e. lower highs incoming) for both SPX and EURUSD on monthly timeframe.
Comment
Hit our target yesterday, waiting for a retrace back to 0.382 (1.90614) for a re-entry above the channel, if expecting continuation to the upside.
Chart PatternsgbpnzdlongTrend Analysis

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.