Technician
Long

GBPNZD: Long-term Resistance Breakout

FX:GBPNZD   British Pound / New Zealand Dollar
1827 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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My best regards
Technician
https://thefxchannel.com
Great trade. Huge trend. Wide stops. Let it run!
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Hi Technician , Can you give your views on this pair currently?
Reply
Excellent, same view here. Waiting for a retracement to reload.
+1 Reply
ImranIshaq IvanLabrie
was waiting for a retracement... never came :(
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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
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Also on top of resistance/now support, lies monthly pivot (2.1072).

As ussual nice work !
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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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Thank you for the outlook Technician, Good Luck :)
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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.
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Technician PRO SteveTobin
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
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