FX_IDC:GBPNZD POUND STERLING / NEW ZEALAND DOLLAR
Price broke out of a 5 year consolidation in June 2015 and has since been forming a falling wedge pattern after a 4000 pip move from 2.10 to 2.53612, watching for price action to tighten and retest the 2.10 breakout before continuing in the direction of the trend, this may take some weeks to complete, but patience will be rewarded!
Looking to revisit this idea here as price has found support at $2.046 and is now forming higher highs and higher lows suggesting a bullish continuation of the previous bullish leg that started in late April 2015. Price has broken out and retested the wedge pattern resistance as support and has now found resistance at the 61.8% retracement of the bullish weekly retracement. Waiting for a break and retest on the 4H chart to go long