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bfairbridge
Oct 2, 2016 1:14 AM

GBPNZD breakout from descending triangle Short

British Pound/New Zealand DollarFXCM

Description

HTTPS://WWW.TRADINGVIEW.COM/X/OU8WB6CD/Price action has formed a descending triangle continuation pattern, with the resistance line growing stronger as price has reacted to it on multiple occasions and the support level at 1.76950 being tagged a few times more recently. A doji formed on the 29th and price has reached the 2/3 area of the triangle. Expect a breakout in the downwards direction.
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