forexopl
Long

GBPNZD LONG - Tech Analysis

FX:GBPNZD   British Pound / New Zealand Dollar
51 0 0
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.
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