Bullish GBPNZD to top of regression channel
FOREXCOM:GBPNZD British Pound / New Zealand Dollar
GBPNZD finally broke the low volatility creep and dropped to the bottom of the downward regression channel. Looking for momentum confirmation to the upside before entering for a move back to 0.618 (~1.919), the top of the channel. Then we'll see if it can break out and move higher. Despite recent relief from Fed, I see generally bearish conditions (i.e. lower highs incoming) for both SPX and EURUSD on monthly timeframe .
Hit our target yesterday, waiting for a retrace back to 0.382 (1.90614) for a re-entry above the channel, if expecting continuation to the upside.