fximperija
Long

Possible long * bullish pennant

FX:GBPNZD   British Pound/New Zealand Dollar
After ret. with 200 pips from the 50fib of the previous rally up, PA managed to ret. only to 38.2 forming a bullish pennant . Is it bullish or just a CZ             on structure before cont. down? I suppose the 1st is more likely. With GBPUSD             nearing the peaks and weak NZD it is very hard to predict the next moves.

Watch out for the break of 956 for down move and 965 for uptrend cont. So far this channel hasn't been broken on either side, but upside pressure is obvious.
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