With price in a bullish channel
, we see GBPNZD
trading at the bottom range gearing up for a continuation trend movement. On the 4 hour chart, price has entered a clear bullish trend
making higher highs and higher lows. The 50ema has crossed over the 200ema signaling a short-term bullish trend
. With the 50ema holding as support, I am looking for price to briefly retest the 2.1100 zone or pin below to the 200ema before reversing off. If price action
shows a long entry I will enter with an initial take profit at last week's high around 2.1480.