Technician
Long

GBPNZD: Long-term Resistance Breakout

FX:GBPNZD   British Pound/New Zealand Dollar
1814 11 44
A key long term resistance was taken and we have seen stability above it through multiple weekly closing. Would love to see a pullback towards that broken resistance which could reverse role to support now to long the pair. Next likely resistance and upside target at 2.2250.

Good luck
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Technician
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would you consider the broken resistance to be a Head and Shoulder neckline? I decided it was and traded the break.
Reply
Technician TOP SteveTobin
2 years ago
Its a bit hard to call it a head and shoulders for me, as it was a very long term sideways range. But anyway, all lead to the same outcome= resistance breakout...
-1 Reply
Technician TOP Technician
2 years ago
It also can be an inverse head and shoulders, yeah..
-1 Reply
moneymaking
2 years ago
Thank you for the outlook Technician, Good Luck :)
Reply
buff22
2 years ago
Technician, you seem to identify trends and targets very well, but how to do you confirm if the pair is actually going to continue in that trend? as in when a pair breaks r/s points but soon falls back. Thanks anyways for providing awesome insight
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bloodbath
2 years ago
Also on top of resistance/now support, lies monthly pivot (2.1072).

As ussual nice work !
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a firm break above 2.1482 and hold on my chart should open up the trade to your target ..thank you Technician
Reply
Excellent, same view here. Waiting for a retracement to reload.
+1 Reply
ImranIshaq IvanLabrie
a year ago
was waiting for a retracement... never came :(
Reply
FXKOPPA
a year ago
Hi Technician , Can you give your views on this pair currently?
Reply
magik
a year ago
Great trade. Huge trend. Wide stops. Let it run!
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