What's the NEXT MOVE on GBPNZD ?
As you can see on the monthly or weekly chart, since October 2016, there is an ascending channel showing us some downside gravity on this pair.
On the daily chart, from Feb 15 2022 till present, the price might be forming a bearish flag signaling more downside movement.
Now inside the bearish flag / ascending channel on the 4H and or 1H chart, the trigger area for a possible inner structure reversal pattern is at 1.96684 (High of the middle section) & 2.00480 (Upper TL multiple touches).
#Patienceiskey Wait for the reversal pattern.
As you can see on the monthly or weekly chart, since October 2016, there is an ascending channel showing us some downside gravity on this pair.
On the daily chart, from Feb 15 2022 till present, the price might be forming a bearish flag signaling more downside movement.
Now inside the bearish flag / ascending channel on the 4H and or 1H chart, the trigger area for a possible inner structure reversal pattern is at 1.96684 (High of the middle section) & 2.00480 (Upper TL multiple touches).
#Patienceiskey Wait for the reversal pattern.