GBPNZD: Waiting For Breakout

Apr 23, 2021

Classic moment of confusion on GBPNZD pair.

From buyers perspective, we see a major rising trend line
that serves as a safe point to buy from.

From sellers perspective, the market remains bearish from the beginning of the month
and the price keeps falling within a falling parallel channel.

To clarify the direction of the next swing move, I suggest waiting for a breakout.

In case of a bullish breakout of a falling channel,
a bullish continuation will be expected.

In case of a bearish breakout of a major trend line,
the market will most likely drop sharply.

Wait for a breakout & follow the market.

What do you think will happen?

Apr 25, 2021

Note

Check my new analysis on EURUSD: