A Daily look on GBPNZD by ThinkingAntsOk
Use this as a guide to develop your view of the chart.
Main items we can see on the Daily Timeframe:
a)The price is inside an ascending channel (main structure)
b)A key level on the chart is the support/resistance zone that has been active since November 2017
c)Currently, we can see a Zig-Zag Pattern (Flag Pattern), which is considered a continuation structure, meaning that a new motive wave should start after the breakout.
d)If the new bullish wave goes as expected, our next target for GBPNZD is the Highest trendline of the ascending channel.
Main items we can see on the Daily Timeframe:
a)The price is inside an ascending channel (main structure)
b)A key level on the chart is the support/resistance zone that has been active since November 2017
c)Currently, we can see a Zig-Zag Pattern (Flag Pattern), which is considered a continuation structure, meaning that a new motive wave should start after the breakout.
d)If the new bullish wave goes as expected, our next target for GBPNZD is the Highest trendline of the ascending channel.