Price might break the resistance zone for the liquidity retest and hence fall back to complete the D1 ascending channel.
This week Pound against NZ Dollar buys(short) coming to conclusion as we looking to sell(long) the currency.
Price is predicted to retest the support,pull back as it breaks the Ascending channel and price descending.
@BillOverMillisfx
@BOMF_ANALYSIS
@tradeologist_King_Mck
Ater a long time of bears dominating the market.
bulls will be taking power over bears
the price is predicted to go the upside.
Descending channel gives us motive that bulls might be taking control.
The price broke the Descending channel, NZDUSD in buying phase for the long trend.
Bearish movement is expected on NZDUSD to fill the Liquidity gap on 4H timeframe then we can look for buying opportunities.
The price is expected to go upside until it reaches the upper resistance rayline and predicted to move to the downside as the price is ranging on Daily time frame.
The price is expected to reverse when it reaches the resistance trendline forming a third touch. Which when we will execute a sell position on that point looking at the behaviour of the price and other technical reasons.
The price formed an descending channel which have two touches on the resistance trendline and two touches on the support trendline. The price is now at the second touch of the resistance trendline. With the formation of candlestick pattern at the point we have an inside bar which predict the market as sellers taking control.
![EURGBP: [EURGBP 1D] Overall Structure](https://s3.tradingview.com/c/cNwnF6tQ_mid.png "[EURGBP 1D] Overall Structure")
