GBP/NZD has been in an uptrend, respecting the ascending channel since the beginning of the year
Currently the price is almost touching the bottom trend line (retracement).
I expect the price to show a reversal, with the buyers taking control of the market, increasing the price and continuing the ascending channel.
I will wait for a clear rejection of this trend line for a conformation and enter the trade. The expected movement is shown by the grey path drawn.
Currently the price is almost touching the bottom trend line (retracement).
I expect the price to show a reversal, with the buyers taking control of the market, increasing the price and continuing the ascending channel.
I will wait for a clear rejection of this trend line for a conformation and enter the trade. The expected movement is shown by the grey path drawn.