GBPNZD LONG - Tech Analysis

FX:GBPNZD   British Pound / New Zealand Dollar
Doing my top down analysis, GBP/NZD has been in an upwards channel, making higher low's and higher highs. Most recently, it made a higher low which suggests that it will make a new higher high. Here i have a AB/CD setup. C has been confirmed. The counter trend line (yellow line) has been broken, retested, now awaiting a continuation (a break and close above 2.030. This is a conservative entry, but our TP is 600+ pips, so losing out on 30 pips to await continuation confirmation is worth it.

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.