SamKent

GBP/NZD Building up Bull potential

Long
FX:GBPNZD   British Pound / New Zealand Dollar
1
The GBP/NZD 4H chart is trading sideways for the most part. However, if we examine price action more closely, we see a recurring theme of sellers attempting to push the market down and getting rejected, with a series of long wicks on the bottom of the candles. This coupled with the fact that buyers are making slightly higher highs each time, indicates to us that buyers may soon gain control of this market and break higher. We're looking at the ascending trend-line as our line in the sand for the bulls, so long as the line holds without a close below it, we favour the upside.