GBPNZD | Potential Megaphone Pattern

GBPNZD | Potential Megaphone Pattern

From the price movement, we can see that GBPNZD is creating a price
expansion that already has taken the shape of a megaphone pattern.

The price is already facing resistance from the upper part of
the structure and it can push the price lower again.

However the correction that the price is doing close to the top of the structure can make
the price moving above the megaphone resistance line by increasing in this way the bullish
momentum.

This pattern is very tricky overall.


Thank you and Good Luck!

Trade closed: target reached: